Bitmine Immersion Technologies today reported ownership of 3.43% of the total Ethereum token supply, representing two-thirds of its target to accumulate 5% of all ETH. Supported by a consortium of institutional backers including ARK Invest’s Cathie Wood, Founders Fund, Pantera Capital, Kraken, DCG and Galaxy Digital, the company has deployed both balance-sheet purchases and staking operations since early 2025. At the current rate of acquisition—averaging 0.27% of total supply per quarter—Bitmine expects to surpass the 5% threshold by mid-2026, further solidifying its position as one of the largest single holders of ETH among publicly traded miners.

Behind Bitmine’s rapid accumulation is a coordinated capital‐raising effort led by venture investors MOZAYYX and Bill Miller III, which has funded both direct token purchases and investments in validator nodes. As of December 31, 2025, Bitmine operated over 12,000 active staking validators across data centers in Trinidad and Texas, generating an annualized staking yield of approximately 4.8%. Those rewards have been reinvested to purchase an incremental 0.15% of ETH supply since the start of 2026. With a projected run-rate of 2,400 new validators per quarter, the company anticipates staking revenues will cover more than 60% of future token acquisition costs, enhancing the sustainability of its treasury strategy.