BitMine Doubles Down on Ethereum; Bitwise Sees Crypto Rally Ahead
2 Investments BitMine boosts its Ethereum holdings by $60M despite losses, shifts to staking with MAVAN, and declares a dividend. Bitwise remains bullish on BTC, ETH, XRP, and UNI, citing Ethereum's Fusaka upgrade as a key catalyst.
BitMine is intensifying its commitment to Ethereum, continuing to accumulate large amounts of ETH despite a 47% drop in its stock price and approximately $4 billion in unrealized losses. The company recently acquired 21,537 ETH, valued at $60 million, bringing its total holdings to over 3.5 million ETH, nearly 3% of Ethereum's circulating supply. BitMine attributes recent ETH price weakness to a market liquidity shock and is shifting from passive holding to active yield generation by launching the Made in America Validator Network (MAVAN) for staking operations in early 2026. The firm has declared an annual dividend of $0.01 per share, positioning itself as the first large-cap crypto treasury to return capital directly to investors. Meanwhile, Bitwise Asset Management remains optimistic about the potential for rallies in Bitcoin, Ethereum, XRP, and Uniswap's UNI token, citing technical analysis and market trends. Additionally, Bitwise CIO Matt Hougan highlights the upcoming Fusaka upgrade for Ethereum, which introduces Peer Data Availability Sampling and could significantly increase Ethereum's revenue capture, making ETH a potential leader in the next crypto rally.
