TLDR
- Bitmine Immersion acquired 28,625 ETH worth $82 million, following a $60 million purchase the day before.
- BMNR stock gained nearly 5% in premarket trading and remains up 258% for the year despite recent volatility.
- The company holds more than 3.5 million ETH, accounting for approximately 3% of Ethereum’s circulating supply.
- Institutional shareholders increased positions from 10 million to 100 million shares within a one-month period.
- The firm will launch its MAVAN staking network in 2026 and recently distributed its first dividend payment.
Bitmine Immersion Technologies bought 28,625 ETH in an $82 million transaction over the weekend. The purchase extends the company’s pattern of accumulating Ethereum during market weakness.
Bitmine Immersion Technologies, Inc., BMNR
One day earlier, Bitmine received 21,537 ETH from institutional broker FalconX. That transfer was valued at roughly $60 million. The back-to-back deals represent more than $140 million in Ethereum acquired within 48 hours.
Lookonchain identified the wallet activity showing both transactions. Bitmine’s total holdings now exceed 3.5 million ETH. The position equals about 3% of Ethereum’s total circulating supply, making Bitmine the largest corporate holder worldwide.
Ethereum has experienced sharp declines over recent weeks. The token must reclaim the $2,850 to $2,900 range to avoid potential slides toward $2,500. Paper losses on Bitmine’s treasury have reached billions of dollars.
Stock Gains as Institutions Accumulate
BMNR shares jumped nearly 5% during Monday’s premarket session. The price movement suggests investors support the aggressive buying strategy.
Over the past month, BMNR has dropped 50% from recent highs. However, the stock still shows a 258% gain since January. The equity ranks among the best-performing crypto-related stocks in 2025.
Institutional investors have dramatically increased their BMNR positions. Securities filings show ownership exploded from 10 million shares to 100 million shares in four weeks. The rapid accumulation happened during the stock’s decline.
Thomas Lee, representing Bitmine, explained the market downturn stems from mechanical factors. He referenced October’s liquidity shock that cleared tens of billions in leveraged positions. Lee drew parallels to the 2022 deleveraging following FTX’s collapse.
Bitmine anticipates a sharp recovery once stabilization occurs. The company treats current price levels as strategic entry points. Management categorizes these purchases under its “Strategic ETH Reserve” initiative.
Staking Plans and Shareholder Payments
Bitmine revealed plans for its “Made in America Validator Network” last week. MAVAN will launch in early 2026 with three pilot partners already selected. The infrastructure will enable Bitmine to stake its Ethereum holdings.
Staking the full ETH position would generate recurring annual returns. This creates a revenue stream beyond simple price appreciation. The approach transforms Bitmine from passive holder to active network participant.
Lee said the company is building partnerships with top infrastructure providers. “We believe in building the premier destination for our natively staked Ether,” he stated. The strategy aims to maximize long-term shareholder value at scale.
The company issued its first annual dividend recently. Bitmine joined a small group of crypto treasury companies paying cash distributions. Management views the dividend as confirmation of confidence in its business approach.
Bitmine expects to publish comprehensive treasury updates soon. The report will detail Ethereum, Bitcoin, Eightco Holdings, and cash positions. Markets are waiting for clarity on exact holdings after the recent buying activity and price fluctuations.
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