BitMine Stakes 186K More ETH, Total 1.5M Reaches $5.13B
Ethereum Digital Asset Treasury (DAT) BitMine has just received another massive Ether batch, bringing its total amount to more than 1.5 million ETH.
Tom Lee-led BitMine Immersion Technologies (BMNR) added 186,560 ETH (worth around $625 million) to a “Beacon Depositor” address, Lookonchain reported on Wednesday.
This brings the total amount sold by the world's largest ATM (ETH) DAT to 1,530,784 ETH, an estimate of $5.13 billion, which is equivalent to 4% of the total 36 million ETH held on the Beacon chain.
This share may still increase as the company holds just over 4 million ETH in total, of which 37% is now covered.
The move comes just a few days after it crossed the 1 million milestone in accumulated ether.
On Monday, the firm reported holding 4,167,768 ETH, 192 Bitcoin (BTC), nearly $1 billion in cash, and a $23 million stake in Eightco Holdings.
Meanwhile, the Ethereum staking validator entry queue rose to 2.3 million ETH, the highest level since August 2023.
Bitmine stock increases in afternoon trading
BitMine shares rose 3.8% to $32.35 in afternoon trading on Tuesday, according to Google Finance.
The company has had a good start to the year, with share prices up 11.5% year-on-year in line with the broader rise in crypto markets.
Related: Crypto Treasury Purchases Outpace Bitcoin Supply 3-to-1
Fundstrat's Tom Lee, who heads the firm, sees a bullishness in Ether and crypto in 2026 until the end of 2025.
We continue to see a relaunch after October 10, 2025, akin to a ‘mini crypto winter'. In the year 2026 is the year that crypto prices will recover and 2027-2028 will see strong gains,” he said on Monday.
ETH price is up 7% on the day.
Meanwhile, the price of Ether has seen its biggest daily gain since 2026, rising 7% in the last 24 hours.
According to TradingView, the asset hit $3,375, its highest level since December 10, in early Wednesday trading on Coinbase.
Ether is nearing the upper bands of its two-month sideways channel and needs to break above $3,400 to see further meaningful momentum.
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