Bitmine doubles down on Ethereum — now holds one of the largest ETH treasuries among public firms Bitmine Immersion Technologies has been aggressively accumulating and staking Ethereum, building what looks to be one of the largest ETH treasuries held by a publicly traded company. In a recent disclosure, the firm said it now holds roughly 4.17 million ETH — about 3.45% of the circulating supply — and has staked more than 1.2 million ETH. Those holdings put Bitmine well on the path to its self-stated “Alchemy of 5%” goal: at about 3.45% of supply, the company is roughly 70% of the way toward owning 5% of all circulating Ether. Under CEO Tom Lee’s leadership, Bitmine has funneled about $3.9 billion of ETH into staking, a bold signal of conviction in Ethereum’s long-term fundamentals and a bid to generate yield for shareholders. From buyer to staking operator: MAVAN Bitmine isn’t content to be just a large holder and staker through third parties. The company plans to launch its Made in America Validator Network (MAVAN), which it says will become one of the largest ETH staking infrastructures in the ecosystem once operational. Should Bitmine route its staked ETH through MAVAN and partner providers at current fee levels, the company projects Ethereum staking fees could amount to roughly $370 million — underscoring a strategic shift from passive yield capture to an infrastructure play. A diversified on-chain balance sheet — and continued buying Bitmine’s crypto exposure extends beyond staking. The company reports a diversified asset pool that includes Bitcoin, other digital assets and cash, with total holdings around $14 billion (including its just-over-4 million ETH). The firm has continued adding to its Ethereum position recently; the most recent disclosed buy was 24,266 ETH last week. Bitmine also says it has been growing its liquid cash position even as it accumulates more ETH. Corporate move to sustain the strategy To keep its accumulation pace intact, Bitmine is asking shareholders for approval to increase its authorized share count. The company says the current 500 million authorized shares are nearing full utilization, and without an increase, its ability to keep acquiring Ethereum at the current speed could be constrained. Bitmine has scheduled an annual stockholder meeting for January 15, 2026, where it seeks a simple majority (50.1%) vote to expand share authorization. Market watchers have been watching Bitmine’s buying closely, with many speculating about potential price effects as a single public company becomes a dominant buyer and staking operator in the Ethereum ecosystem. Read more AI-generated news on: undefined/news

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