Bitmine Immersion Technologies, Inc., a Bitcoin and Ethereum network company, has strengthened its position as the world’s largest Ethereum holder. The company announced total crypto and cash holdings valued at $13.2 billion, including 4.066 million ETH tokens. Bitmine now controls approximately 3.37% of Ethereum’s circulating supply, moving closer to its stated goal—the “alchemy of 5%.”

Bitmine’s Ethereum-first treasury strategy

Bitmine’s focus on Ethereum accumulation continues to define its corporate identity. Bitmine’s crypto reserves consist of 4,066,062 ETH, 193 Bitcoin, and a $32 million stake in Eightco Holdings, along with $1.0 billion in cash. The company’s ETH position, purchased at an average price of $2,991 per token, is now valued around $12 billion based on market prices.

According to Bitmine Chairman Thomas “Tom” Lee of Fundstrat, the company added 98,852 ETH in the past week alone.

“Bitmine continues to add steadily to its ETH holdings, adding 98,852 ETH in the past week, and Bitmine holdings now exceed the crucial 4 million ETH tokens. This is a tremendous milestone achieved after just 5.5 months,” Lee said in the official announcement.

He added,

“We are making rapid progress towards the ‘alchemy of 5%’ and we are already seeing the synergies borne from our substantial ETH holdings. We are a key entity bridging Wall Street’s move onto the blockchain via tokenization. And we have been heavily engaged with the key entities driving cutting edge development in the DeFi community.”

Leading global Ethereum treasury

Bitmine’s crypto holdings make it the leading Ethereum treasury globally and the second-largest overall corporate crypto treasury. Only Strategy Inc. (MSTR) holds a larger position, with 671,268 Bitcoin valued at $59 billion. Bitmine’s approach has focused on disciplined accumulation rather than short-term trading, reflecting its conviction that Ethereum’s role in tokenization and DeFi will transform global financial systems.

The company’s momentum comes amid heavy trading of its common stock. Data from Fundstrat indicates BMNR stock ranks as the 66th most traded U.S. equity by dollar volume, with a five-day average of $1.7 billion. This places it just behind Wells Fargo and ahead of Chevron among more than 5,700 listed companies, according to Statista and Fundstrat research.

Validator expansion and 2026 outlook

Bitmine plans to build on its sizable ETH holdings by rolling out a U.S.-based validator network. The company’s soon-to-launch staking division, the Made in America Validator Network (MAVAN), is designed to provide a secure, institutional-grade staking platform.

“We continue to make progress on our staking solution known as The Made in America Validator Network (MAVAN). This will be the ‘best-in-class’ solution offering secure staking infrastructure and will be deployed in early calendar 2026,” said Lee.

The validator program will allow Bitmine to generate additional yield on its holdings while supporting Ethereum’s network infrastructure. This approach marks the next phase in Bitmine’s transformation from a simple accumulator into an active participant in the decentralized finance ecosystem.

Broader market context

The announcement also connects Bitmine’s strategy to broader financial shifts. The company cited the impact of major U.S. policy initiatives like the GENIUS Act and the SEC’s Project Crypto. According to the firm, these developments in 2025 rival the economic shift triggered by the U.S. ending the gold standard in 1971, a move that paved the way for the modernization of Wall Street and today’s financial infrastructure.

Bitmine’s aggressive ETH accumulation has not gone unnoticed among institutional investors. The company remains backed by well-known market participants, including ARK Invest founder Cathie Wood, Pantera Capital, Founders Fund, Bill Miller III, Kraken, DCG, and Galaxy Digital.

Investor engagement and next steps

Bitmine has announced that its annual stockholders meeting will take place at the Wynn Las Vegas on January 15, 2026. The event provides an opportunity for shareholders to review progress and engage directly with the company’s executives.

Bitmine’s strategy positions the company as a bridge between traditional capital markets and the blockchain economy. Its near-term focus remains reaching the 5% Ethereum supply milestone, integrating staking operations, and continuing its role in advancing blockchain adoption through real asset participation.

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