BitMine Keeps Buying Bitcoin While Prices Drop
BitMine Immersion Technologies, a crypto‑asset manager for itself and others, added 40,613 ETH last week during a market downturn. This purchase pushed its total holdings past 4.3 million tokens, valuing the addition at roughly $8.8 billion at current prices.
Staking Strategy Keeps Revenue Flowing
Although BitMine still reports losses on its Ethereum position, a significant portion of the coins remains locked in staking. By locking ETH on the network, the company earns additional Ether, creating a steady income stream from blockchain operations.
Valuation Snapshot
- Total crypto holdings + cash + other investments: $10 billion
- Digital assets at year‑end 2025 report: $10.6 billion
Critics Warn of Volatility Risk
Critics argue that the company’s strategy is risky, especially if Ethereum continues to fall. BitMine’s chairman counters that this volatility aligns with the firm’s value proposition: the company’s worth should mirror Ethereum’s performance. This perspective explains the recent share decline:
- 31 % drop in the last month
- 60 % decline over six months
Market Context
Ethereum has faced sustained pressure since an October flash crash that triggered roughly $19 billion in sell‑offs. Prices remain low, and many traders are still liquidating positions. However, most institutional holders—including BitMine—have refrained from selling. Only a few entities, such as Quantum Solutions, have divested small amounts.
Continued Accumulation and Diversification
BitMine persists in holding and even purchasing more Ethereum during downturns. Additionally, the company generates revenue from operating high‑performance data centers that utilize its proprietary cooling technology.
