BitMine Immersion Technologies, the largest corporate holder of ether, acquired 40,302 ETH last week in its biggest purchase of 2026. The transaction, valued at roughly $117 million at current prices, increased the firm’s total holdings to more than 4.24 million ETH, representing about 3.5% of the circulating supply.
The purchase followed shareholder approval to expand BitMine’s authorized share count, allowing the company to raise additional capital through equity issuance. That decision provided renewed balance sheet flexibility after BitMine signaled earlier this month that accumulation could slow without fresh funding capacity.
BitMine has staked more than 2 million ETH, converting nearly half of its holdings into yield-generating assets. The scale of its staking activity has contributed to longer validator entry times on the Ethereum network, highlighting the growing influence of large treasury holders on network dynamics.
