Key Highlights
- Bitmine reported 4.144M ETH holdings, about 3.43% of total ETH supply, with total crypto + cash + “moonshots” at $14.2B.
- The firm said 659,219 ETH is currently staked, with its MAVAN staking network targeted for Q1 2026.
- Chairman Tom Lee recently urged shareholders to approve raising authorized shares from 500M to 50B ahead of the January 15 meeting in Las Vegas.
Bitmine Immersion Technologies disclosed that its Ethereum (ETH) holdings have climbed to 4.14 million Ethereum (ETH), representing 3.43% of the total ETH supply, after adding roughly 32,977 ETH worth about $100 million over the past week. The accumulation shows the company’s accelerated long-term strategy as it heads into its annual shareholder meeting in Las Vegas.
According to CoinGecko data, Bitmine’s combined crypto holdings, cash, and strategic investments now total $13.2 billion. This positions the company as the largest Ethereum treasury in the market and the second-largest crypto treasury globally, b
Accelerated ETH accumulation
As of today, Bitmine holds 4,143,502 ETH, alongside 192 Bitcoin (BTC), roughly $915 million in cash, and a $25 million equity stake in Eightco Holdings.
Chairman Thomas “Tom” Lee said the pace of accumulation reinforces Bitmine’s position as the largest “fresh money” buyer of ETH globally, a distinction meant to signal organic capital deployment rather than legacy holdings.
Bitmine’s stated goal, internally dubbed the “Alchemy of 5%,” is to ultimately control 5% of the Ethereum supply through continued purchases and staking.
Staking ramps ahead of MAVAN launch
Bitmine reported that 659,219 ETH is now staked, up by more than 250,000 ETH in one week, representing about $2.1 billion at current prices. The company currently works with three staking providers and plans to launch its proprietary Made in America Validator Network (MAVAN) in early 2026.
At full deployment, Bitmine estimates staking income could exceed $1 million per day, based on current network yields. Lee described MAVAN as a “best-in-class” institutional staking platform designed to support both yield optimization and domestic infrastructure goals.
Share authorization vote takes center stage
Alongside the treasury update, Bitmine released a special Chairman’s message urging shareholders to approve a proposal to increase authorized shares from 500 million to 50 billion at its upcoming January 15 annual meeting.
Lee framed the move as structural rather than dilutive, arguing the expanded authorization is necessary to support future stock splits, selective capital raises, and potential acquisitions as ETH prices rise. Bitmine’s stock has increasingly tracked Ethereum’s price, which Lee said could push per-share prices into levels that require repeated splits to maintain trading liquidity.
Liquidity and institutional backing
Bitmine also highlighted its activity in equity markets. The company’s stock now trades roughly $1.1 billion per day, ranking it as the 44th most traded stock in the U.S., ahead of names like Home Depot and just behind IBM.
The firm counts a roster of prominent backers, including Cathie Wood’s ARK, Pantera Capital, Galaxy Digital, DCG, Founders Fund, Kraken, Bill Miller III, and Tom Lee himself.
As Bitmine heads into its shareholder meeting at the Wynn Las Vegas, the company is doubling down on Ethereum as a core treasury asset, betting that scale, staking yield, and market liquidity will define the next phase of institutional crypto strategy in 2026.
Also read: Ethereum Sees 110% Surge in New Holders After Fusaka Upgrade
