Bitmine Expands Dominant Crypto Position with Massive Ethereum Acquisition

Bitmine has been aggressively expanding its Ethereum (ETH) holdings, with the latest move being a $61.9 million purchase of 71,179 tokens through an over-the-counter channel.

The acquisition is part of Bitmine's strategic effort to accumulate ETH, aiming to reach 5% of the circulating supply in eight months. The company has already acquired 4.661 million ETH tokens, representing a commanding 3.86% of the total supply.

With its staking operation generating significant revenue, Bitmine's treasury is actively growing at an accelerated clip. The Staking Engine, launched on March 25, 2026, allows for converting holdings to cash flow and has already secured $177 million in annualized staking revenues.