Bitmine Immersion Technologies has expanded its Ethereum treasury, purchasing approximately 61,000 ETH, bringing its total holdings to over 4.5 million ETH as prices climbed back above the $2,000 level.
The move coincided with a broader crypto market rally, with Bitcoin nearing $69,000 and Ethereum reclaiming the $2,000 mark, signaling renewed investor interest amid geopolitical tensions and traditional market volatility.
As of March 8, 2026, Bitmine reported total crypto, cash, and strategic investments valued at approximately $10.3 billion. The company holds 4.53 million ETH, 195 Bitcoin, $1.2 billion in cash, and smaller equity investments.
Bitmine's Ethereum position represents about 3.76% of the total circulating supply, establishing it as the largest corporate Ethereum treasury globally.
Chairman Tom Lee believes crypto markets may be nearing the end of a "mini crypto winter," citing market strategist Tom DeMark's models that compare Ethereum's current price structure with historical S&P 500 recoveries. Correlations suggest a potential bottom forming between March 8 and March 14.
In response to this outlook, Bitmine increased its accumulation pace, acquiring 60,976 ETH in the past week, exceeding its previous average weekly purchases.
Furthermore, Bitmine is expanding its staking operations, with 3,040,483 ETH currently staked, valued at roughly $6 billion. This program is generating $174 million in annualized revenue, with potential to reach $259 million annually upon full deployment through its Made in America Validator Network (MAVAN), expected to launch in early 2026.
Bitmine ranks as the largest Ethereum treasury worldwide and the second-largest corporate digital asset treasury overall.