{"id":7536,"date":"2026-03-17T06:11:38","date_gmt":"2026-03-17T06:11:38","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=7536"},"modified":"2026-03-17T06:11:38","modified_gmt":"2026-03-17T06:11:38","slug":"bitmine-buys-140m-in-ether-as-treasury-tops-4-59-million-eth","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=7536","title":{"rendered":"Bitmine Buys $140M in Ether as Treasury Tops 4.59 Million ETH"},"content":{"rendered":"

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  • Bitmine Immersion Technologies acquired 60,999 ETH worth approximately US$140 million in the week ending March 15, its largest weekly purchase of 2026 by token count.<\/span><\/li>\n
  • The company\u2019s total Ethereum holdings reached 4,595,562 tokens valued above US$10 billion, representing 3.81% of total ETH supply as it pursues a 5% ownership target.<\/span><\/li>\n
  • Bitmine carries an estimated US$6.5 billion in unrealised losses on its ETH position, though annualised staking revenue of roughly US$180 million partially offsets the shortfall.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    Bitmine Immersion Technologies bought 60,999 ETH in the week ending March 15, spending about US$140 million (AU$214 million) as it continued building toward a target of owning 5% of Ethereum\u2019s circulating supply.<\/p>\n

    The purchase lifted Bitmine\u2019s holdings to 4,595,562 ETH, worth more than US$10 billion (AU$15.3 billion), according to the company. Including US$1.2 billion (AU$1.84 billion) in cash and minority stakes in Beast Industries and Eightco, Bitmine said its total assets now stand at US$11.5 billion (AU$17.60 billion). Its shares, listed on the NYSE American under BMNR, rose about 9% in pre-market trading after the announcement.<\/p>\n

    Bitmine said it currently stakes 3,040,515 ETH, or about 66% of its holdings. Based on a seven-day annualised yield of 2.81%, that generates an estimated US$180 million (AU$275 million) in annual revenue.\u00a0<\/p>\n

    The company plans to launch its Made in America Validator Network, or MAVAN, in the first quarter of 2026, and said annual staking revenue could rise to US$272 million (AU$416 million) at full capacity.<\/p>\n

    Related: Vitalik Buterin Proposes Simplifying Ethereum Nodes to Boost Decentralisation<\/strong><\/p>\n

    Staking Revenue and the 5% Target<\/h2>\n

    The company\u2019s accumulation plan, which it calls \u201cAlchemy of 5%,\u201d has brought it to about 3.81% of Ethereum\u2019s 120.7 million token supply. That puts it roughly three-quarters of the way toward its goal.\u00a0<\/p>\n

    The purchase followed the prior week\u2019s acquisition of 60,976 ETH, showing that Bitmine is maintaining a steady buying pace (though it also bought 5,000 ETH directly from the Ethereum Foundation in a separate deal).<\/p>\n

    Not to mention the strategy carries significant market risk, as data from DropsTab showed Bitmine holding an estimated US$6.5 billion (AU$9.95 billion) in unrealised losses, although ETH\u2019s recent rebound has helped reduce the shortfall but not in a quite significant way.<\/p>\n

    Chairman Thomas Lee said crypto assets have outperformed since the start of the Iran war, adding that Ethereum has done better than the S&P 500 by 2,450 basis points over that period. Bitmine also holds 196 Bitcoin, but its treasury strategy remains overwhelmingly concentrated in ETH.<\/p>\n

    Read more: Investors Accuse JPMorgan of Facilitating $328M Crypto Fraud<\/strong><\/p>\n<\/p><\/div>\n

    BitMine,Ethereum,Staking#Bitmine #Buys #140M #Ether #Treasury #Tops #Million #ETH1773727898<\/p>\n","protected":false},"excerpt":{"rendered":"

    Bitmine Immersion Technologies acquired 60,999 ETH worth approximately US$140 million in the week ending March 15, its largest weekly purchase of 2026 by token count. The company\u2019s total Ethereum holdings reached 4,595,562 tokens valued above US$10 billion, representing 3.81% of total ETH supply as it pursues a 5% ownership target. Bitmine carries an estimated US$6.5<\/p>\n","protected":false},"author":1,"featured_media":7537,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[3353,439,85,601,1165,406,3354,585],"class_list":["post-7536","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-140m","tag-bitmine","tag-buys","tag-eth","tag-ether","tag-million","tag-tops","tag-treasury"],"yoast_head":"\nBitmine Buys $140M in Ether as Treasury Tops 4.59 Million ETH - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=7536\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitmine Buys $140M in Ether as Treasury Tops 4.59 Million ETH\" \/>\n<meta property=\"og:description\" content=\"Bitmine Immersion Technologies acquired 60,999 ETH worth approximately US$140 million in the week ending March 15, its largest weekly purchase of 2026 by token count. 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