Bitmine Amasses 4.17M ETH as Crypto and Cash Holdings Hit $14B

Core Insights - Bitmine Immersion Technologies has solidified its status as the largest corporate holder of Ether by acquiring over 24,000 ETH in the past week, bringing its total holdings to approximately 4.17 million ETH, which constitutes about 3.4% of Ether's circulating supply [1][2][9] Group 1: Company Holdings - Bitmine reported a total of around $14 billion in combined crypto and cash holdings, which includes nearly $1 billion in cash reserves [3] - The company holds 193 Bitcoin and a $23 million equity stake in Eightco Holdings, with Ether being the cornerstone of its investment strategy [3] Group 2: Staking Strategy - The company has staked approximately 1.26 million ETH, an increase of nearly 600,000 ETH from the previous week, indicating a shift towards a more active role in the Ethereum ecosystem [4] - Bitmine is developing its own staking platform, expected to launch in early 2026, which will enhance its participation in the Ethereum network [5] Group 3: Shareholder Dynamics - Chairman Tom Lee has called for shareholders to approve an increase in authorized shares, which is crucial for the company's ability to continue acquiring Ether at scale [6] - A majority vote of outstanding shares is required to move forward with this proposal, which will be a key topic at the upcoming annual meeting [6] Group 4: Market Response - Following the news of its Ether acquisition and staking strategy, Bitmine shares rose about 3% in early trading, while Ether was trading near $3,100, reflecting broader market trends [7]