Nasdaq-listed Bitmine Immersion Technologies (BMNR) announced on March 16 that it has acquired another 60,999 Ethereum (ETH). The company's total ETH holdings now stand at 4.596 million coins, representing roughly 3.81% of Ethereum's total supply. Bitmine also committed an additional $80 million investment in Eightco (ORBS) to facilitate the purchase of OpenAI equity. Combined crypto, cash, and 'Moonshot' assets under management have exceeded $11.5 billion.
60,999 ETH Added; 76% of 5% Supply Target Achieved in 8 Months
Bitmine disclosed it bought the latest batch in open-market purchases. The firm's stated goal is to acquire 5% of all Ethereum in circulation. Over eight months, it has already passed 76% of that target. Notably, Bitmine directly purchased 5,000 ETH from the Ethereum Foundation to help fund its core operations. At present, 3.04 million ETH — worth about $6.6 billion — are staked. Bitmine's MAVAN staking solution is expected to launch in Q1 2026.
$80M Injection Fuels Eightco's OpenAI Stake
Beyond the Ethereum push, Bitmine is expanding into AI. The company allocated an extra $80 million to Eightco (NASDAQ: ORBS). That capital will support Eightco's $50 million purchase of OpenAI equity. Bitmine claims ORBS is now the only publicly traded stock providing direct exposure to OpenAI. Dubbed internally as a 'Moonshot' investment, the move is designed to diversify the asset portfolio with high-upside exposure.
Cathie Wood, Founders Fund, and Other Big Names Back the Plan
Bitmine's growth strategy draws support from a long list of institutional backers. The company said its '5% ETH' ambition continues to be endorsed by ARK Invest's Cathie Wood, Founders Fund, Bill Miller III, Pantera Capital, Kraken, DCG, Galaxy Digital, and analyst Tom Lee. With its Web3 and AI footprint widening, the Ethereum whale's next moves will be closely watched by the market.