BitMine has advanced its Ethereum strategy as it continues to accumulate ETH while navigating falling stock prices and large unrealized losses.
The company has added more tokens to its treasury even as market conditions remain unstable.
Executives have maintained confidence in long-term recovery and their broader strategy.
The firm has also pushed ahead with a new staking initiative designed to reshape its role in the Ethereum ecosystem.
BitMine adds 21,537 ETH as losses grow
Lookonchain reported that BitMine purchased 21,537 ether tokens through a wallet linked to institutional broker FalconX.
The platform stated that the transfer increased BitMine’s total holdings to more than 3.5 million ETH.
This amount represents about 3% of Ethereum’s circulating supply, making BitMine one of the largest corporate holders of the asset.
The accumulation continued while Ethereum’s price extended its month-long decline. The downturn has produced billions in paper losses on BitMine’s balance sheet.Â
The company also saw its stock fall as the market pullback accelerated.
Executives described the purchases as part of BitMine’s “Strategic ETH Reserve” program, which aims to hold and deploy Ethereum over time.
Thomas Lee, a representative for the company, attributed the market slump to what he called broader liquidity mechanics. He pointed to October’s liquidity shock, which triggered a wipeout of tens of billions in leveraged positions across the crypto sector.
He compared the event to the 2022 post-FTX deleveraging phase. Lee stated that BitMine expects a V-shaped recovery once markets stabilize.
MAVAN staking network set for 2026 launch
BitMine announced plans for its “Made in America Validator Network” on Nov. 21. The firm said the staking infrastructure, known as MAVAN, will go live in early 2026.Â
BitMine has selected three pilot partners to test validator operations during the development phase.
The company intends to expand the network with at least one more pilot partner and additional infrastructure providers.
Lee stated that BitMine wants to build a leading destination for its natively staked ether. He said the company chose partners it considers among the strongest in the industry.
According to Lee, the long-term strategy aims to serve shareholders by integrating staking with treasury management.
If BitMine stakes its entire ether reserve, the company could earn annual staking rewards.
That shift would move BitMine from a reserve-only holder to an active validator in Ethereum’s proof-of-stake system. It would also create recurring revenue independent of ETH price cycles.
BitMine also introduced a nominal annual dividend, becoming one of the first major crypto treasury firms to distribute capital directly to shareholders.
The company said the dividend reflects its confidence in its long-term plan.
Management stated that the strategy connects token accumulation, US-based staking infrastructure, and shareholder distributions at a time when Ethereum prices remain under pressure.