Overview
- BitMine bought 45,759 ETH last week for roughly $90–$91 million, according to a company update.
- Total holdings rose to 4,371,497 ETH worth about $8.7 billion, representing roughly 3.62% of the circulating supply.
- About 69% of the stack—more than 3 million ETH—is staked, producing roughly $176 million in annualized rewards at an estimated 2.89% yield.
- Chairman Tom Lee describes market psychology as rock bottom, comparing it to the 2018 and November 2022 lows and characterizing the period as a 'mini-winter.'
- The company is preparing a proprietary validator network called MAVAN targeted for Q1 2026, and coverage reports an internal objective, the 'Alchemy of 5%,' to reach 5% of circulating ETH.