BitMine expands Ethereum holdings with major purchase
BitMine doubles down on Ethereum despite market slump.
- BitMine bought 21,537 ETH, raising its holding to 3% of supply.
- Company plans “Made in America Validator Network” in 2026.
- BitMine issued a dividend, signaling confidence in its strategy.
BitMine has purchased 21,537 ether tokens, continuing its Ethereum accumulation strategy amid declining stock prices and billions in unrealized losses on its balance sheet, according to analytics platform Lookonchain.
Lookonchain reported that a wallet associated with the company received a transfer of ether from institutional prime broker FalconX. The purchase brings BitMine’s total holdings to more than 3.5 million ether, representing approximately 3% of the cryptocurrency’s circulating supply and making the firm one of the largest corporate holders of Ethereum.
The acquisition comes as Ethereum ( ETH ) has declined significantly over the past month, creating billions in paper losses for BitMine’s treasury and contributing to a drop in the company’s stock price. The company has characterized the purchases as part of its “Strategic ETH Reserve” program.
Thomas Lee, a representative at BitMine , stated that the recent market downturn resulted from broader market mechanics rather than structural weakness. Lee cited the October liquidity shock, which eliminated tens of billions in leveraged positions across the crypto market, and compared the clearing process to previous market episodes, including the post-FTX deleveraging in 2022. The company anticipates a V-shaped recovery once markets stabilize, according to Lee.
On Nov. 21, BitMine announced plans for its “Made in America Validator Network” (MAVAN), a staking infrastructure scheduled to launch in early 2026. The company has selected three pilot partners to test its validator operations.
Lee stated that BitMine plans to expand MAVAN with at least one pilot partner alongside infrastructure providers. “We believe in building the premier destination for our natively staked Ether and are proud to build with the best partners,” Lee said in a statement. “At scale, our strategy will best serve the long-term best interests of our shareholders.”
If BitMine stakes its complete ether holdings, the company could generate annual rewards, creating recurring revenue. The move would transition BitMine from a reserve holder to an active participant in Ethereum’s proof-of-stake network.
BitMine recently declared a nominal annual dividend, becoming one of the first major crypto treasury companies to distribute capital directly to shareholders. The company stated the dividend demonstrates confidence in its long-term strategy.
The company’s approach combines continued token accumulation, development of a U.S.-based staking network, and shareholder distributions as Ethereum prices remain under pressure.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Gelatin Snacks Gain Popularity, Yet Specialists Warn: Not an Instant Solution
- Burn Blend released a gelatin-based snack protocol with three formulations targeting weight management and metabolic health, following a 340% surge in "Gelatin Trick Recipe" searches and 50M+ social media views. - Morning, afternoon, and evening recipes combine ingredients like berberine, chromium, and herbal teas to address thermogenesis, blood sugar control, and recovery, requiring precise preparation steps. - The company emphasizes the protocol as a dietary supplement tool, not a standalone solution,

Malicious Software Abuses npm Preinstall to Steal Sensitive Data, Compromising 25,000 GitHub Repositories
- Wiz Research identified Shai-Hulud 2.0, a supply-chain attack exploiting npm's `preinstall` phase to hijack 25,000+ GitHub repos and steal secrets from crypto/developer tools. - Malware infiltrates packages like `@zapier/zapier-sdk` and `@ensdomains/ens-validation`, using GitHub runners for credential theft and workflow injection across ecosystems. - Attackers create self-hosted runners, exfiltrate secrets as artifacts, and delete traces, with new compromises emerging at 1,000 per 30 minutes. - Security
Connecting Conventional Finance with Cryptocurrency: Revealing Korea’s Leading Fintech Force
- South Korea's Upbit and Naver Financial will merge to create a fintech-crypto powerhouse, aiming for a Nasdaq IPO by 2026. - The stock-swap deal grants Dunamu shareholders 30% of the combined entity, while Naver's stake drops to 17% to address antitrust concerns. - Regulators are scrutinizing the merger, with Dunamu transferring over half its voting rights to Naver to balance control and compliance. - The post-merger entity's valuation rose to KRW 50 trillion ($34.5B), reflecting confidence in growth and

The ChainOpera AI Token Crash: An Alert for Cryptocurrency Initiatives Powered by AI
- ChainOpera AI token's 96% collapse in late 2025 exposed systemic risks in AI-driven crypto projects, highlighting governance, algorithmic, and regulatory flaws. - Centralized control by ten wallets and opaque AI models triggered liquidity crises and panic selling, undermining decentralization principles. - Regulatory ambiguity from the 2025 GENIUS and CLARITY Acts exacerbated instability, deterring institutional investment and amplifying market volatility. - Market sentiment shifted rapidly, with investo

