On the very same day Strategy revealed locking in its $2 billion bitcoin buy, Bitmine Immersion Technologies quietly bulked up its ethereum stack to 4.203 million ETH, snapping up 35,268 tokens over the past week and further cementing its title as the world’s largest ethereum treasury holder.
Bitmine Adds 35,000 ETH in a Week, Cementing Lead as Top Ethereum Treasury Firm
WRITTEN BY
SHARE
Bitmine’s Ether Treasury Swells
The update came in a Jan. 20 announcement from Bitmine, which disclosed total crypto, cash, and so-called moonshot holdings of roughly $14.5 billion as of Jan. 19. At prevailing prices, the ethereum stack alone accounts for the lion’s share of that figure, with Bitmine now controlling about 3.48% of ethereum’s circulating supply.
The company said the latest accumulation was driven by its long-term thesis around ethereum, particularly as Wall Street ramps up tokenization and onchain settlement initiatives. Bitmine Chairman Tom Lee pointed to growing institutional development activity on Ethereum as a key factor behind the firm’s steady buying.
Bitmine’s ethereum strategy goes beyond simply holding tokens. As of Jan. 19, the firm had staked 1,838,003 ETH—worth roughly $5.9 billion—up more than 580,000 ETH in just one week. That staked balance represents a significant slice of Bitmine’s overall holdings and positions the company to generate meaningful staking revenue as yields accrue.
The firm is also preparing to roll out its Made in America Validator Network, or MAVAN, a commercial staking solution expected to launch in early 2026. Bitmine said it is currently working with three staking providers while finalizing the infrastructure, with plans to eventually stake the majority of its ethereum holdings.
Beyond ethereum, Bitmine reported holding 193 bitcoin, nearly $1 billion in cash, and a $22 million equity stake in Eightco Holdings, which it classifies under its moonshots bucket. A recently announced $200 million investment into Beast Industries is expected to close shortly and will be carried at cost once finalized.
Also read: Forward Industries Grows Solana Treasury to Nearly 7 Million SOL
Bitmine also highlighted strong shareholder backing for its accumulation strategy. All four proposals at the company’s Jan. 15 stockholder meeting passed, including a measure to increase authorized shares, which received 81% support among votes cast.
With its ethereum holdings now second only to Strategy Inc.’s bitcoin treasury on a global basis, Bitmine shows no signs of slowing down. For now, the firm’s message is simple: keep stacking, stake aggressively, and let ethereum do the rest.
FAQ ❓
- How much Ethereum does Bitmine hold?
Bitmine holds 4.203 million ETH, representing about 3.48% of Ethereum’s supply. - How much ETH did Bitmine buy last week?
The company acquired 35,268 ETH over the past seven days. - How much Ethereum is Bitmine staking?
Bitmine has staked 1,838,003 ETH, valued at roughly $5.9 billion. - What is MAVAN?
MAVAN is Bitmine’s upcoming Made in America Validator Network for Ethereum staking.
