‍BitMine Expands Ethereum Treasury to $9 Billion Amid Price Recovery

Digital asset firm BitMine Immersion Technologies has acquired an additional 50,928 ETH, valued at approximately $103 million, reinforcing its position as a major institutional holder of Ethereum. The company's total treasury now stands at over 4.47 million ETH, representing roughly 3.71% of the circulating supply.

BitMine views the current price correction as a strategic entry point, despite paper losses. The firm has staked over 3 million ETH for yield generation and plans to transition to its proprietary MAVAN Validator Network to optimize revenues. Chairman Tom Lee stated, "BitMine has been buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals."

Current staking activities generate approximately $172 million annually, with projections to increase to $253 million upon full implementation of MAVAN. This institutional support underscores long-term investment in Web3 and DeFi.

https://cryptovka.com/news/bitmine-expands-ethereum-treasury-to-9-billion-amid-price-recovery