Ethereum prices rose amid optimism surrounding Iran, as BitMine Immersion Technologies expanded its ETH holdings to more than $10 billion. The company now stores over 4.66 million ETH, worth roughly $10.17 billion per an SEC filing, with Ethereum trading near $2,180 after a roughly 5% daily move. The development underscores BitMine’s position as a leading ETH treasury holder and reinforces a narrative of sustained institutional interest.
BitMine has pursued an aggressive accumulation strategy, purchasing 65,341 ETH last week. Those purchases bring total holdings to more than 4.66 million ETH, about 3.81% of the total Ethereum supply. The latest purchase, valued at approximately $142 million at current prices, expands its status as the largest institutional ETH treasury position. BitMine also carries an unrealized loss of roughly $7 billion on its ETH position.
Lee has signaled confidence that the crypto market is nearing the end of its downturn, aligning with BitMine’s long-term exposure strategy. Beyond spot holdings, the company has staked 3,142,291 ETH to generate yield, with a projected annual yield of roughly $272 million once fully staked. This activity unfolds amid broader market uncertainty and evolving investor sentiment toward digital assets.
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