3.86M ETH and Counting — BitMine’s Progress Toward 5% of Ethereum Supply

ccn.comPublished on 2025-12-08Last updated on 2025-12-08

Abstract

BitMine Immersion Technologies has amassed 3.86 million ETH, equivalent to approximately 3% of Ethereum’s circulating supply, as revealed in its first annual earnings report since pivoting to an Ethereum treasury strategy. Chairman Tom Lee announced the company now holds the world’s largest Ethereum treasury and aims to control at least 5% of the total supply. Beyond simply holding ETH, BitMine is implementing advanced strategies including a custom staking solution expected to generate $1.3 million daily once fully operational. The firm also plans to launch BitMine Labs, a venture studio focused on high-risk, high-reward Ethereum-based investments. This marks a significant shift from its previous focus on Bitcoin mining, positioning BitMine as a major force in Ethereum accumulation and yield generation.

Key Takeaways

  • BitMine has reported its first annual earnings since pivoting to an Ethereum treasury strategy.
  • The company has amassed 3.86 million ETH equivalent to around 3% of the circulating supply.
  • Chairman Tom Lee is now targeting 5%.

Upon presenting its 2025 earnings on Monday, Dec. 8, Bitmine Immersion Technologies revealed that it now holds 3.86 million ETH.

Not satisfied with amassing the world’s largest Ethereum treasury, Chairman Tom Lee has set his sights on controlling 5% of the total ETH supply.

Earn Crypto with These Top Mining Apps
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
"}' data-trk="67d19e1ff74d32de176c1b03" href="https://www.miningrigrentals.com?ref=2742248" rel="nofollow" target="_blank">
Mining Rig Rentals<\/h3>"}' data-trk="67d19e1ff74d32de176c1b03" href="https://www.miningrigrentals.com?ref=2742248" rel="nofollow" target="_blank">

Mining Rig Rentals

promotions
Earn a commission on your referral\u2019s transactions.<\/strong>"}' data-trk="67d19e1ff74d32de176c1b03" href="https://www.miningrigrentals.com?ref=2742248" rel="nofollow" target="_blank"> Earn a commission on your referral’s transactions.
Coins
6
Claim Offer
"}' data-trk="67d19ee2f74d32de176c1b5f" href="https://hashing24.com/?rid=53616c7465645f5fe8657fbf16217f483baff299e53f4db4" rel="nofollow" target="_blank">
Hashing24<\/h3>"}' data-trk="67d19ee2f74d32de176c1b5f" href="https://hashing24.com/?rid=53616c7465645f5fe8657fbf16217f483baff299e53f4db4" rel="nofollow" target="_blank">

Hashing24

promotions
Earn 3-10% on referral purchases<\/strong>"}' data-trk="67d19ee2f74d32de176c1b5f" href="https://hashing24.com/?rid=53616c7465645f5fe8657fbf16217f483baff299e53f4db4" rel="nofollow" target="_blank"> Earn 3-10% on referral purchases
Coins
Claim Offer
"}' data-trk="67d1a119f74d32de176c1be1" href="https://accounts.binance.com/en/register?ref=DTDJBNX1" rel="nofollow" target="_blank">
Binance Pool<\/h3>"}' data-trk="67d1a119f74d32de176c1be1" href="https://accounts.binance.com/en/register?ref=DTDJBNX1" rel="nofollow" target="_blank">

Binance Pool

promotions
Sign up, verify, deposit 100 USDT, get 100 USDT bonus<\/strong>"}' data-trk="67d1a119f74d32de176c1be1" href="https://accounts.binance.com/en/register?ref=DTDJBNX1" rel="nofollow" target="_blank"> Sign up, verify, deposit 100 USDT, get 100 USDT bonus
Coins
5
Claim Offer

From Bitcoin Miner to ETH Treasury Giant

Monday’s annual earnings presentation was BitMine’s first since the company’s hard pivot to an Ethereum treasury strategy.

This time last year, the firm’s primary business was Bitcoin mining, but by the summer of 2025, BitMine was stacking serious ETH, pulling ahead of rivals like sharpLink in the race to become Ethereum’s MicroStrategy..

“Bitmine [...] is the largest holder of Ethereum in the world,” Lee announced on Monday.“I think that’s a pretty impressive feat because five months ago, BitMine owned zero,” he added.

The company’s ETH holdings are already equivalent to around three percent of the cryptocurrency’s circulating supply. Looking ahead, it is targeting “at least five percent,” Lee revealed.

Beyond Static Reserves: BitMine’s ETH Revenue Model Revenue

Following the model pioneered by Strategy, corporate Bitcoin holders have traditionally been content to stack coins and wait for prices to rise.

But as competition in the space rises, HODLing is no longer sufficient. Increasingly, digital asset treasury companies are embracing more sophisticated strategies.

For Bitmine, that means expanding beyond traditional staking. According to Lee, the firm has invested heavily in a custom staking solution designed to maximize yield. Once fully operational, he expects the new platform to generate $1.3 million a day.

Beyond staking, Lee also revealed plans to launch BitMine Labs—a kind of Ethereum venture studio that will direct capital toward “moonshot” investments.

Top Picks for Ethereum
  • Best Exchanges for Ethereum Get A Great Offer When You Join These Exchanges
  • Buy Ethereum Fast & Easy How To Buy Ethereum With a Credit Card Now
  • Best Online Casinos for Ethereum See Our Picks for the Best Crypto Gambling Sites

Related Reads

Ethereum Leverage Hits Highest Level Ever – Market Enters Critical Risk Zone

Following the Federal Reserve's 25 basis point rate cut, Ethereum retreated below $3,200 after an initial brief rally. According to CryptoQuant, Binance’s Ethereum Estimated Leverage Ratio has reached a record high of nearly 0.579, indicating the market has entered a highly sensitive and unstable phase. This extreme leverage suggests recent price action is driven by speculation rather than organic demand, making the market vulnerable to sharp volatility. Even a modest price swing could trigger cascading liquidation event. With ETH trading near $3,300, this rally is considered inherently fragile as it is supported by leverage, not strong spot inflows. A slight cooling in leverage alongside rising prices could provide a healthier foundation for a sustained uptrend.

bitcoinist1m ago

Ethereum Leverage Hits Highest Level Ever – Market Enters Critical Risk Zone

bitcoinist1m ago

HTX Takes the Crown for the Most Net Inflows of $583.7M Over the Past 30 Days

HTX has recorded the highest net inflows among global centralized exchanges over the past 30 days, with $583.7 million in net deposits, according to data from DefiLlama as of December 5. This reflects growing user trust in the platform’s security, transparency, and product offerings. Key factors behind this performance include HTX’s long-standing commitment to proof of reserves, with 38 consecutive months of published Merkle Tree-based reserve data, consistently showing reserve ratios at or above 100% for major assets. Additionally, the platform has strengthened compliance and risk management systems, reinforcing its reliability. HTX Earn has also seen significant growth, with increased user participation and asset subscriptions—driven by its simplicity, transparent yields, and competitive returns. The surge in inflows signals user confidence in HTX’s stability and value during periods of market uncertainty.

TheNewsCrypto5m ago

HTX Takes the Crown for the Most Net Inflows of $583.7M Over the Past 30 Days

TheNewsCrypto5m ago

BTC/ETF ETF "Bleeding" VS XRP "Sucking In" Nearly 900 Million: Market Rotation or Shift in Sentiment? | MyToken AMA Recap

Recent cryptocurrency ETF markets have shown significant divergence, with Bitcoin and Ethereum ETFs experiencing substantial net outflows, while altcoin ETFs—particularly XRP—have attracted nearly $900 million in institutional inflows. Analysts from a MyToken AMA discussion suggest this shift reflects short-term market rotation and year-end profit-taking rather than a fundamental change in institutional strategy. Experts emphasize that while Bitcoin and Ethereum remain core holdings due to their macro sensitivity and liquidity, funds are temporarily shifting to narrative-driven assets like XRP, which benefits from regulatory progress and niche use cases. Retail investors are advised to maintain a majority allocation in major cryptocurrencies, use data tools to track flows, and avoid impulsive trading. Promising sectors include payment solutions, real-world assets (RWA), and AI-related crypto applications. The muted price reaction to XRP ETF inflows may stem from reduced narrative sensitivity, institutional position reshuffling, and existing sell pressure. Overall, the market is transitioning from broad bull trends to structured, rotation-driven opportunities.

金色财经11m ago

BTC/ETF ETF "Bleeding" VS XRP "Sucking In" Nearly 900 Million: Market Rotation or Shift in Sentiment? | MyToken AMA Recap

金色财经11m ago

x402 V2 Launch: When AI Agents Get "Credit Cards," Which Projects Will Be Revalued?

x402 V2 Launch: AI Agents Gain "Credit Cards" – Which Projects Will Be Revalued? Coinbase’s x402 protocol has released its V2 upgrade, shifting from a single-chain payment tool for AI agents to a multi-chain, credit-enabled infrastructure. While V1 allowed AI to make on-chain payments via API calls, it was inefficient and costly due to per-transaction gas fees. V2 introduces three major enhancements: 1. **Delayed Payments**: AI agents can now use services first and pay later, enabling session-based or subscription billing. This effectively gives AI "credit," reducing friction and enabling high-frequency transactions. 2. **Multi-Chain Support**: The protocol is no longer limited to Base chain, allowing AI to transact across Ethereum, Solana, and other networks. 3. **Hybrid Payment Rails**: Supports both crypto (e.g., USDC) and fiat payments, bridging Web3 and traditional finance. This upgrade positions x402 as a foundational layer for the "machine economy," potentially revaluing projects in: - **AI Credit & Identity**: Protocols like Spectral (credit scoring), Bond Credit (agent lending), and CARV (decentralized identity) may see demand as AI requires trust and verification for deferred payments. - **Compute & Verification**: DePIN projects (e.g., Akash Network for decentralized compute) and ZKML protocols (e.g., Giza for verifiable AI inference) could benefit from seamless, high-frequency payment channels. - **Agent Execution Platforms**: Projects like Virtuals Protocol (AI agent issuance) and Brahma (on-chain execution) may leverage x402 for cross-chain agent operations and automated DeFi strategies. The update signals a shift from investing in "smarter" AI models to financing AI economies—where credit, identity, and execution layers become critical. Early-stage infrastructure projects in these areas could capture value as AI agents evolve into independent economic entities.

深潮11m ago

x402 V2 Launch: When AI Agents Get "Credit Cards," Which Projects Will Be Revalued?

深潮11m ago

Trial 1314 Days Late: Mastermind Behind $40 Billion Stablecoin Collapse Sentenced to 15 Years

The trial of Do Kwon, the mastermind behind the $40 billion Terra (LUNA) and UST stablecoin collapse, concluded on December 11, 2025, with a 15-year prison sentence. After 1,314 days since the catastrophic crash, Kwon was convicted of orchestrating an "epic, generational-scale fraud" that wiped out life savings for over a million victims and triggered a crypto market crisis, including the fall of FTX. Despite his defense pleading for a five-year term, citing arrogance rather than greed as motive, the judge dismissed it as absurd and deemed the prosecution’s recommended 12 years too lenient. Kwon, who had initially pleaded not guilty, eventually admitted to two counts of conspiracy and wire fraud in August, agreeing to forfeit over $19 million in assets. Victim impact statements revealed devastating losses—homes, retirement funds, and education savings vanished. Many described being misled by Kwon’s false assurances and cult-like influence. In a rare apology, Kwon expressed remorse, acknowledging his "arrogance" and the pain he caused. He may serve half his sentence in the U.S. before potential transfer to South Korea, where he faces additional charges.

marsbit23m ago

Trial 1314 Days Late: Mastermind Behind $40 Billion Stablecoin Collapse Sentenced to 15 Years

marsbit23m ago

Trading

Spot
Futures
活动图片

Hot Categoriesright-arrow

Hot Tagsright-arrow