Key Highlights
- Bitmine added 41,788 ETH to its holdings last week, expanding its treasury despite Ethereum falling to $2,300.
- The company’s total assets are valued at $10.7 billion, including 4.28 ETH, 193 BTC, cash, and equity stakes.
- Bitmine has 2.9M ETH staked, earning $188M annually, with its MAVAN network set to increase its reward further.
Bitmine Immersion Technologies, Inc., an Ethereum (ETH) treasury firm, purchased 41,788 ETH last week amid the recent price decline. The company now holds around 4,285,125 ETH, worth $10.1 billion at the current price.
This represents roughly 3.55% of the total ETH supply, making Bitmine the largest Ethereum treasury in the world and the second largest crypto treasury overall, after MicroStrategy.
Additionally, the firm holds 193 Bitcoin (BTC), about $586 million in cash, a $200 million stake in Beast Industries, and a $20 million stake in Eightco Holding, according to an update released on Monday.
The purchase comes as Ethereum faces selling pressure. The price dropped sharply over the weekend, falling below $2,500 and briefly touching $2,187 before bouncing back. Currently, ETH is trading at $2,374, up 3.05% in the last 24 hours but down 17.79% in the last seven days.
Previous Ethereum purchases and rewards
Earlier, on January 21, Bitmine purchased 35,228 ETH, which was after another 24,266 ETH from a week before its annual shareholder meeting on January 15.
The company has also staked 2,897,459 ETH, worth about $6.7 billion, generating annual staking revenue of around $188 million.
Once Bitmine’s Made in America Validator Network (MAVAN) becomes fully operational in early 2026, staking rewards could reach $374 million per year (using 2.81% CESR), which is equal to more than $1 million per day.
“This will be the ‘best-in-class’ solution offering secure staking infrastructure and will be deployed in early calendar 2026. Bitmine is currently working with 3 staking providers as the Company moves towards unveiling MAVAN in 2026,” Lee said.
Bitmine’s stock activity
Bitmine (BMNR) is currently trading at $23.80, about a 6% drop in the last 24 hours, according to Yahoo Finance. The company said it ranks #105 among all U.S.-listed stocks by average daily trading dollar volume, with around $1.1 billion traded daily over the last five days, which places it ahead of many established companies.
In its press release, the company highlighted that the changes in U.S. regulation, including the passing of the GENIUS Act and the SEC’s Project Crypto, could help digital assets become more widely used in finance.
Sitting on $6.6 billion in unrealized losses
As of the last week of January, Bitmine’s total holdings were worth about $12.8 billion combined. However, the recent market crash has reduced the value of its Ethereum holding, leaving the firm with an estimated unrealized loss of about $6.6 billion.
Chairman Thomas “Tom” Lee mentioned this in the press release, noting, “ETH prices have dropped sharply in the past month from approximately $3,000 to approximately $2,300.” However, he added that Ethereum activity is strong, with 2.5 million daily transactions and 1 million active addresses per day.
Lee said the company believes the cryptocurrency is essential for the future of finance. With MAVAN and its growing treasury, Bitmine is positioning itself as a major player in the crypto and digital finance world.
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