Bitmine Expands Lead as Largest Ethereum Treasury

Bitmine Immersion Technologies has made significant strides in its pursuit of accumulating Ethereum (ETH), with a recent purchase of 51,162 tokens. This brings its total holdings to $9.6 billion, making it the largest Ethereum treasury.

The company's strategy is focused on reaching the 'Alchemy of 5%' threshold, where it would own 5% of the ETH supply. As of February 23, Bitmine holds 4,422,659 ETH, representing 3.66% of the circulating supply. It has already surpassed 73% of its target.

Bitmine's leadership views recent price fluctuations as a 'mini crypto winter' and believes that Ethereum's long-term utility will drive prices upward. The company is working towards launching its proprietary staking solution, MAVAN, in Q1 2026, which it claims will further optimize yield across its treasury.