Bitmine Immersion Technologies increased its holdings in Ether over the past week as its CEO urged shareholders to approve a proposal that would allow the company to further expand its treasury and staking operations.
The company said it purchased 24,266 Ether (ETH) over the past week, bringing its total cryptocurrency holdings to approximately 4.17 million ETH, or 3.4% of the token’s circulating supply.
According to Monday announcementthe company reported a total of approximately $14 billion in cryptocurrency and cash holdings, including $988 million in cash. In addition to ETH, he owns 193 Bitcoins (BTC) and a $23 million stake in Eightco Holdings.
Bitmine has also expanded its staking activity, with approximately 1.26 million ETH currently staked, an raise of 596,864 ETH compared to the previous week. Staking involves locking up cryptocurrency to assist run a blockchain network in exchange for a profit. Bitmine is working on its own staking platform, and its implementation is planned for early 2026.
The update also brought renewed calls for Tom Lee for shareholder approval of an raise in authorized shares, which the company says is needed to support its strategy, ahead of its annual meeting scheduled for Thursday in Las Vegas.
Lee said the company’s articles of incorporation require the approval of a majority of the issued shares and warned that without additional approval, Bitmine’s ability to continue to acquire Ether may be narrow.
According to Yahoo Finance, Bitmine shares rose 3% in early trading datawhile the price of Ether (ETH) was near $3,100, down 3.3% over the last seven days.
Related: Ethereum treasury company BitMine has passed the milestone of 1 million staked ETH
Bitmine, Strategy is dominated by digital asset treasure trove companies
2025 saw a wave of digital asset treasury companies emerge as entities adopted strategies focused on keeping Bitcoin, Ether and other cryptocurrencies on their balance sheets. While hundreds of companies have entered this space with varying approaches, treasury holdings have become significantly concentrated.
According to data from CoinGecko, Bitmine has established itself as the largest Ether treasury company by a wide margin, holding 4,167,768 ETH worth almost $13 billion, compared to Sharplink, the second largest holder, which reports 864,840 ETH, and The Ether Machine, which holds almost 500,000 ETH.
When it comes to Bitcoin, Strategy, led by Michael Saylor, continues to outshine other corporate holders after pioneering the Bitcoin treasury model in 2020. Business holds According to BitcoinTreasuries.NET 687,410 BTC, well ahead of Mara Holdings Inc. with 53,250 BTC and Twenty One Capital with 43,514 BTC.
Neither company showed signs of slowing down. Last week, Strategy added 13,627 BTC to its balance sheet for a total of $1.25 billion, marking its largest Bitcoin purchase since July. Bitmine has stated that its goal is to have 5% of the total Ether supply, or approximately 6 million ETH.
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