Bitmine has aggressively accumulated Ethereum during market weakness, boosting its total holdings to approximately $10.7 billion. The company now controls 3.55% of the circulating ETH supply and maintains a diversified portfolio including Bitcoin. Leadership cited strong fundamentals for the strategy despite recent price volatility.
Bitmine announced it added 41,788 Ethereum to its treasury on February 2. This acquisition brought its total Ethereum reserves to 4,285,125 tokens, representing 3.55% of the circulating supply.
The company’s diversified holdings include 193 Bitcoin valued at approximately $15.2 million. Its treasury also holds a $200 million stake in Beast Industries and $586 million in liquid cash.
Bitmine has also reached more than 70% of its “Alchemy of 5%” target as of February 1. The firm maintains a $20 million stake in Eightco Holdings as part of its asset base.
Despite ETH’s price dropping from around $3,000 to about $2,300, leadership remains confident. Chairman Tom Lee stated, “Bitmine has been steadily buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals.”
The company is shifting toward becoming a global yield-focused entity. A key initiative is its U.S.-based infrastructure project, the Made in America Validator Network (MAVAN).
Bitmine‘s stock price recently fell nearly 10% to $22.80 according to Google Finance. This occurred even as Ethereum’s price rebounded about 4.3% to $2,324 over 24 hours.
