Key Highlights
- Bitmine added 24,266 ETH last week, lifting total holdings to 4.17M tokens worth about $12.9B.
- The firm now controls roughly 3.45% of Ethereum’s total supply, closing in on its internal 5% target.
- More than 1.25M ETH is already staked, with Bitmine’s MAVAN validator network slated for launch in Q1 2026.
Bitmine is pressing its Ethereum (ETH) strategy in early 2026. The company disclosed that it purchased another 24,266 ETH over the past week, pushing total holdings to 4,167,768 tokens, according to a January 12 release. At current prices, the position is valued near $12.9 billion, cementing Bitmine’s role as the largest single “fresh money” buyer of ETH in the market.
As per the official release, the accumulation comes as the company prepares for its annual shareholder meeting in Las Vegas on January 15, where management is seeking approval to expand authorized shares. Executives argue the move is essential to keep funding ETH purchases without slowing the pace of accumulation.
A growing slice of Ethereum’s supply
With the latest purchases, Bitmine Immersion Technologies now controls about 3.45% of Ethereum’s circulating supply, a level reached in roughly six months. Internally, the company refers to its long-term objective as the “Alchemy of 5%,” a benchmark that would make it one of the most influential holders in the network.
Bitmine reported total crypto, cash, and strategic “moonshot” investments of roughly $14 billion, including nearly $1.0 billion in cash reserves. The firm says it has continued buying ETH while still growing its cash balance, a point executives use to underscore what they call disciplined capital management.
Staking ramps ahead of MAVAN launch
Bitmine said more than 1,256,000 ETH is now staked, up sharply from the prior week. At current network rates, the company estimates that full deployment of its holdings could generate staking revenue north of $1 million per day.
The company is currently staking through several third-party providers while preparing to roll out its own Made in America Validator Network (MAVAN), which is scheduled to launch in the first quarter of 2026. Executives say the goal is to bring more of that staking activity in-house, under a setup tailored for institutional standards and regulatory clarity.
Share vote takes center stage
Alongside the treasury update, Chairman Tom Lee renewed his call for shareholders to approve a proposal to increase authorized shares. Lee argues the measure is not about dilution but about flexibility, warning that Bitmine could soon exhaust its current authorization and be forced to slow ETH accumulation.
Bitmine’s stock has become one of the most actively traded in the U.S., averaging roughly $1.3 billion in daily dollar volume over the past week. The company lists institutional backers including ARK, Founders Fund, Pantera, Galaxy Digital, and DCG.
With ETH hovering near $3,090 and trading volumes rising in 2026, Bitmine continues to build exposure through purchases and staking. The company’s approach suggests a long-term balance-sheet strategy rather than a short-term trade.
Also read: Truebit Exploit Drains $26M in ETH as Hacks Pile Up
