BitMine Accumulates 3.71% of Ethereum Supply as Strategy Adds 3,015 BTC
EthereumEXCHANGEBitMine purchased 50,928 ETH in a single week, bringing its reserves to 4.47 million ETH. Meanwhile, Strategy added 3,015 BTC worth ~$204.1 million to its treasury.
BitMine Reaches 4.47 Million ETH in Reserves
Publicly traded BitMine purchased 50,928 ETH over the past week, pushing its total holdings to 4,473,587 ETH — equivalent to 3.71% of Ethereum's total market supply. The company has set a long-term target of accumulating 5% of ETH's total issuance.
«🧵1/ BitMine provided its latest holdings update for March 2nd, 2026: $9.6 billion in total crypto + "moonshots": — 4,473,587 ETH at $1,976 (@coinbase) — 193 Bitcoin (BTC) — $200 million stake in Beast Industries @MrBeast — $14 million stake in Eightco…» — Bitmine (NYSE-BMNR) $ETH (@BitMNR), original post
Why This Matters
A single public company holding nearly 3.71% of Ethereum's supply is a landmark development, comparable in scale to what Strategy (formerly MicroStrategy) has done with Bitcoin. Such concentrated corporate accumulation reduces freely circulating supply and establishes a new category of institutional crypto holders with significant market influence.
BitMine Chairman on the Strategy
BitMine Chairman Tom Lee stated that the company is methodically executing its Ethereum investment strategy during the final stages of the current "mini-crypto winter." He noted that geopolitical uncertainty has increased as the U.S. began military operations against Iran, and the impact on financial and digital asset markets will be felt in the coming weeks.
According to Lee, the current correction presents an "attractive" entry point, and the price of ETH "does not reflect its high utility and role as the future of the financial sector."
Source: BitMine
Staking Revenue Potential
As of March 1, BitMine had 3.04 million ETH staked through three third-party providers for passive income generation. At current conditions, this translates to a theoretical annual revenue of $172 million. If the company deployed its entire ETH balance for staking, that figure could reach $253 million annually. BitMine also plans to launch its proprietary staking solution called MAVAN in the first quarter.
The market value of BitMine's Ethereum holdings stands at approximately $8.94 billion. Beyond ETH, the company's portfolio includes 193 BTC, a $200 million stake in Beast Industries, a $17 million position in Eightco Holdings, and $898 million in cash. In terms of crypto treasury size among public companies, BitMine trails only the DAT segment leader Strategy.
Strategy Grows Bitcoin Reserve to 720,737 BTC
Strategy purchased 3,015 BTC over the past week for approximately $204.1 million, at an average price of $67,700 per coin.
«Strategy has acquired 3,015 BTC for ~$204.1 million at ~$67,700 per bitcoin. As of 3/1/2026, we hodl 720,737 $BTC acquired for ~$54.77 billion at ~$75,985 per bitcoin.» — Strategy (@Strategy), original post
The company's total Bitcoin reserve now stands at 720,737 BTC, accumulated since August 2020 at a total cost of $54.77 billion and an average acquisition price of $75,985 per coin. At the time of writing, the treasury's aggregate value is estimated at roughly $50 billion. To fund its latest purchases, Strategy sold $237 million worth of shares at market conditions.
Pompliano's ProCap Financial Expands Holdings
ProCap Financial, led by Anthony Pompliano, acquired 450 BTC, bringing its total crypto reserve to 5,457 BTC while lowering the average cost basis of its holdings.
«We have acquired another 450 bitcoin at $BRR. We continue to aggressively repurchase shares trading below NAV. "Our disciplined approach to our balance sheet has put us in a position to play offense now that Bitcoin has significantly fallen from the all-time high."» — Anthony Pompliano (@APompliano), original post
Simultaneously, ProCap Financial repurchased 782,408 of its own shares, which the company considers undervalued by the market. Prominent Bitcoin critic Peter Schiff commented that when shares trade at a discount to NAV, buybacks are a more efficient way to gain BTC exposure than purchasing the cryptocurrency directly at market price. Pompliano agreed, clarifying that the firm is utilizing the maximum share repurchase volume permitted by regulations.
Previously, it was reported that short interest on Strategy's stock had reached $6 billion against the company's $42 billion market capitalization.
Frequently Asked Questions
How much Ethereum does BitMine hold?
As of March 2, 2026, BitMine holds 4,473,587 ETH, representing 3.71% of Ethereum's total market supply. The market value of these holdings is approximately $8.94 billion.
What is BitMine's long-term Ethereum accumulation goal?
BitMine aims to accumulate 5% of ETH's total issuance. The company is also planning to launch its own staking solution called MAVAN in Q1.
How many BTC does Strategy hold in total?
Strategy's total Bitcoin reserve stands at 720,737 BTC, accumulated since August 2020 at a total cost of $54.77 billion. The average acquisition price is $75,985 per coin.
How much does BitMine earn from staking Ethereum?
BitMine has 3.04 million ETH staked through three third-party providers, generating a theoretical annual revenue of $172 million. Deploying the full ETH balance could yield up to $253 million per year.
How many BTC did ProCap Financial buy?
ProCap Financial, led by Anthony Pompliano, acquired 450 BTC, bringing its total holdings to 5,457 BTC. The company also repurchased 782,408 of its own shares that it considers undervalued.
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