Key Highlights
- BitMine purchased 35,268 ETH last week, increasing total holdings to over 4.2 million ETH.
- The company now has 1.84 million staked ETH, valued at roughly $5.9 billion.
- Ethereum staking reached an all-time high, with over 976,000 active validators and more than 2 million ETH pending staking.
BitMine Immersion Technologies, led by Tom Lee, disclosed that it bought 35,268 Ethereum (ETH) last week. The company now holds over 4.2 million ETH, representing about 3.48% of Ethereum’s total supply.
Tom Lee confirmed the purchase, stating, “The most recent ETH purchases are a sign of increasing institutional trust in Ethereum’s use in financial markets.”
The acquisition comes after the firm added 24,266 ETH the week before its annual shareholder meeting on January 15, 2026, held at the Wynn Encore in Las Vegas. According to CoinGecko, BitMine’s combined crypto holdings, cash, and strategic investments have now reached about $12.7 billion, with 99.86% of its crypto portfolio in Ethereum, while it holds only 0.14% in Bitcoin, the largest cryptocurrency.
BitMine expands staking operations
Ethereum staking has also reached an all-time high. As per the official release, BitMine currently has about 1.84 million ETH staked, worth around $5.9 billion as of January 19, 2026. Staking means locking up ETH to help run the Ethereum network while earning rewards.
Across Ethereum, the total staked ETH has reached $118 billion, with over 976,000 validators active and more than 2 million ETH waiting to be staked. BitMine plans to grow its staking through its Made in America Validator Network (MAVAN). “At scale, the ETH staking fee is $374 million annually… or greater than $1 million per day,” Lee said.
Shareholders approve key proposals
BitMine also shared that all four proposals tabled at its recent annual shareholder meeting were passed on January 15. One proposal, which sought approval to increase the company’s authorized shares, received 81% approval from votes cast.
Lee said, “We view the fact that 81% of votes cast favored increasing authorized shares… as a message from BitMine stockholders that they understand our accretive ETH accumulation strategy.”
BitMine bets on MrBeast
In addition to increasing its holdings, BitMine invested $200 million into Beast Industries on January 15, 2026, a private company run by content creator MrBeast. According to a previous report, the deal, expected to close around January 19, is viewed as the firm’s approach to push beyond crypto markets into global media and creator-led platforms.
Lee highlighted the reach of Beast Industries, saying, “Each of his bi-monthly videos garner ~250 million views… the equivalent of two Super Bowls monthly.” He added that Beast Industries connects strongly with Gen Z and Gen Alpha audiences, and that BitMine sees “strong alignment between BitMine’s capital strategy and Beast Industries’ reach and innovation model.”
BitMine remains the largest known Ethereum treasury and the second-largest crypto treasury globally, behind Strategy Inc. (MSTR), which holds Bitcoin worth $61 billion. The company’s stock is also actively traded, with an average daily trading volume of $1.5 billion, ranking it #60 out of 5,704 US-listed stocks.
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