Bitmine Now Holds Over 4.2M ETH as It Races Toward 5% Supply Control

The purchase, Monday, further solidifies Bitmine as the worlds largest corporate Ethereum holder.

The latest buy caps off a week of aggressive accumulation, part of a broader expansion of BitMines crypto balance sheet to $14.5 billion across ETH, BTC, “moonshot” equity positions, and cash reserves.

BitMines ETH Treasury Hits 3.48% of Supply After Rapid Growth

As of Jan. 19, 5:00 p.m. ET, Bitmine holds 4,203,036 ETH, valued at $3,211 per token.

That represents 3.48% of Ethereums total circulating supply of 120.7 million ETH. This places the company nearly 70% of the way toward what Lee calls the “Alchemy of 5%,” a strategic ownership target the company believes could offer unparalleled leverage in the ecosystem.

Bitmine also maintains 193 BTC and $979 million in cash, alongside a $22 million stake in Eightco Holdings, which the company categorizes within its “moonshots” portfolio.

Those assets collectively bring Bitmines crypto and cash holdings to $14.5 billion, excluding a recently announced $200 million investment in Beast Industries that is expected to close this week.

Staking Operations Scale Up Ahead of MAVAN Launch

Beyond accumulation, Bitmine is rapidly expanding its staking footprint. The company now has 1,838,003 ETH staked, valued at approximately $5.9 billion, an increase of 581,920 ETH in just one week.

That staked amount represents less than half of Bitmine‘s total holdings, meaning significant staking revenue remains untapped until the company’s commercial infrastructure is fully operational.

According to Lee, when all ETH is staked across MAVAN and partner providers, Bitmine is positioned to generate an estimated $374 million per year in staking rewards based on the current 2.81% CESR.

“Bitmine has staked more ETH than other entities in the world,” Lee said. He added that the companys “Made in America Validator Network (MAVAN)” remains on track for deployment in early 2026.

Shareholders Approve All Proposals With Resounding Support

Bitmine also reported a decisive win at its Jan. 15 annual stockholder meeting in Las Vegas, where all four proposed measures passed with overwhelming backing. The most closely watched initiative, Proposal #2 which is to increase authorized shares, received 81% of votes cast and 52.2% of all outstanding shares.

Lee said the outcome reflects deep trust from a shareholder base exceeding 500,000 retail investors.

He reiterated that Bitmine does not sell shares below mNAV, framing the vote as a mandate for continued aggressive growth.

One of the Most Traded Stocks in the U.S.

Bitmine continues to dominate trading activity among crypto-native public companies as well. According to Fundstrat data, BMNR averages $1.5 billion in daily trading volume, ranking it as the 60th most traded stock in the U.S. This is ahead of Accenture and just behind American Express.