BitMine Immersion Technologies ($BMNR) continues its bold Ethereum accumulation strategy, snapping up another 7,430 ethereum:native over the past week for $13.8 million. The company now holds approximately 5.78 million ETH, representing nearly 4.8% of the asset’s total circulating supply. Despite current market prices, Bitmine has committed over $19.44 billion to ETH and is actively staking more than 85% of its holdings through its MAVAN platform and partners, positioning it to generate $247 million in annualized passive income. At the same time, the firm repurchased millions of its own shares under its previously authorized $4 billion share repurchase program. Bitmine Chair Tom Lee highlighted that the move is accretive to shareholder value. This stands in stark contrast to Strategy (formerly MicroStrategy), the largest Bitcoin accumulator, which has skipped its $BTC purchases for 4 weeks in a row already. Bitmine’s Ethereum portfolio stacks up with its 207 BTC holdings, $180 million stake in Beast Industries, $58 million stake in Eightco Holdings (ORBS), and total cash and marketable securities worth $385 million.