Bitmine Immersion Technologies said its Ether holdings climbed sharply over the past week as it stepped up its crypto treasury strategy.
The company said it bought 24,266 Ether, lifting total holdings to about 4.17 million ETH, roughly 3.4% of the circulating supply.
Bitmine reported combined crypto and cash holdings of around $14bn, including nearly $1bn held in cash.
In addition to Ether, the firm holds 193 Bitcoin and a minority stake valued at about $23m in Eightco Holdings.
The company said it has expanded its staking operations, with about 1.26 million ETH now staked on the network.
Staked Ether increased by nearly 600,000 ETH in a single week, reflecting a rapid expansion of yield-generating activity.
Bitmine said it is developing its own staking platform, with plans to launch it in early 2026.
Chairman Tom Lee urged shareholders to approve an increase in authorised shares at the company’s annual meeting in Las Vegas this week.
Lee said additional share authorisation is required to support continued Ether accumulation and treasury growth.
He warned that without shareholder approval, Bitmine’s ability to expand its crypto strategy could be constrained.
Bitmine shares rose about 3% in early trading following the announcement.
Ether was trading near $3,100, down around 3% over the past week.
Data from CoinGecko shows Bitmine is now the largest corporate holder of Ether by a wide margin.
The company has said it is targeting ownership of about 5% of Ether’s total supply, equivalent to roughly 6 million ETH.
At the time of reporting, Ethereum price was $3,134.46.