BitMine Accumulates 3.7% of Ethereum Supply

BitMine has notably expanded its Ethereum reserves, acquiring 50,928 ETH in the last week, which brings its total holdings to approximately 4.47 million ETH. This figure represents about 3.71% of the entire Ethereum supply.

As of March 2, 2026, BitMine's total cryptocurrency assets are valued at $9.6 billion. Its Ethereum holdings are now worth around $8.94 billion alone, alongside 193 Bitcoin and significant stakes in Beast Industries and Eightco Holdings. The company is on a growth trajectory with plans to reach 5% of the Ethereum supply over time.

Tom Lee, chairman of BitMine, described the current market as an attractive entry point due to recent price corrections. He indicated that the ongoing geopolitical tensions, particularly U.S. military actions against Iran, could influence market dynamics in the near future.

Additionally, BitMine is preparing to launch its staking platform, MAVAN, in the upcoming quarter. The firm has already locked in 3.04 million ETH, which could potentially yield annual revenues between $172 million and $253 million, depending on the utilization of its ETH balance.

BitMine currently ranks as the second-largest public company by cryptocurrency treasury value, trailing only Strategy in the digital asset market.

Strategy Maintains Market Dominance

Meanwhile, Strategy has solidified its position by purchasing 3,015 BTC for around $204.1 million, bringing its total Bitcoin reserves to 720,737 BTC, with an overall investment of approximately $54.77 billion since August 2020.

Recent financial maneuvers included selling shares worth $237 million to facilitate these Bitcoin acquisitions. Strategy's current cryptocurrency treasury is evaluated at about $50 billion, showcasing its substantial foothold in the market.

ProCap Financial, led by Anthony Pompliano, has increased its Bitcoin holdings to 5,457 BTC by acquiring an additional 450 BTC. The firm is also repurchasing shares it views as undervalued, highlighting a strategic shift in its asset management philosophy.