The company now holds more than 4.5 million ETH, worth over $9 billion, though it is sitting on a loss of nearly $8 billion.
The ether treasury firm now has nearly $10 billion in assets and more than $6 billion of ETH staked.
The BitMine chairman said at Hong Kong Consensus 2026 that MrBeast acquiring neobank Step could win over a new generation of investors to crypto.
Despite its mounting losses and plunging share price, the ether treasury firm says it's under no pressure to sell its holdings.
Ether's plunging price stands in stark contrast to surging blockchain activity, marking a contrast to prior bear markets, company Chairman Tom Lee said.
The crypto treasury firm added over 40,000 ETH last week and has now staked over 2 million tokens.
The largest Ethereum-focused crypto treasury firm lifted holdings to 4.17 million ETH but signaled limits ahead without authorization to issue fresh equity.
The Fundstrat co-founder and Bitmine chair said bitcoin has yet to peak in January and reiterated his belief that ether is ‘dramatically’ undervalued.
The company is likely sitting on about $3 billion in unrealized losses on its holdings of nearly 4 million ether tokens.
The firm increased the pace of purchases from the previous week despite sitting on large unrealized losses on its ether bet.
The Bitmine chairman said a wounded market maker could be scaling back operations, tightening crypto liquidity and weighing on digital asset prices.
The crypto treasury firm now owns 2.9% of the ETH supply and holds nearly $398 million in cash for more purchases.
The company's 3.4 million of ETH tokens represents just shy of 3% of the total supply.
The digital asset treasury bubble might have burst, as chairman Thomas Lee said, but the firm added over $1.6 billion worth of ETH during the crypto correction.
The firm's ether holdings crossed 3 million tokens, halfway through its goal to corner 5% of the crypto's supply.
The firm extended its lead as the largest ether treasury, holding over 2.83 million in ETH tokens.
Led by Tom Lee, the company aims to control 5% of ether's supply, positioning itself as the largest listed ETH treasury firm.
The company already owned about $5 billion worth of the world's second-largest crypto.
BMNR is ahead 25% today, with ether up another 9% as interest continues to build in ETH corporate treasury strategies.
The company may sell up to $2 billion in stock through Cantor Fitzgerald and ThinkEquity in flexible at-the-market deals, according to a Wednesday filing.
Sharplink Gaming skyrocketed over 4,000% following its $450 million fundraising announcement, only to plunge 90% in the next few weeks.