BitMine Immersion Technologies Increases Ethereum Holdings: Now Owns 3.66% of Total Supply

BitMine Increases Ethereum Holdings BitMine Immersion Technologies (BMNR), chaired by Thomas Lee, continues its strategy of accumulating Ethereum (ETH) despite volatility in the cryptocurrency market.
The company announced the purchase of approximately 51,162 ETH, valued at nearly $98 million, within the past week.
As of February 22, the company's total token count has exceeded 4.42 million, meaning BitMine now controls approximately 3.66% of Ethereum's total circulating supply.
Financial Status and Staking Revenues The company has spent approximately $16.4 billion to date to build its Ethereum treasury.
However, due to the general decline in the cryptocurrency markets, the current market value of these assets has fallen to about half of the investment amount.
This indicates that the company is facing a paper loss of more than $8 billion.
On the other hand, BitMine revealed that it generates approximately $171 million in annualized revenue by utilizing over 3 million of its ETH holdings through staking (Proof of Stake).
Portfolio Diversity and Strategic Approach In addition to Ethereum, the company's portfolio includes 193 Bitcoin, $691 million in cash, and various investments in Beast Industries and Eightco Holdings.
According to market data, although BMNR shares have lost approximately 60% of their value in the last six months, management remains committed to its long-term strategy.
Thomas Lee described the current market conditions as a "mini crypto winter," stating that their focus remains on methodically acquiring ETH and optimizing asset returns.