BitMine Deepens Ethereum Bet as Staked Holdings Top $2.6B

BitMine Immersion Technologies is rapidly emerging as one of the most aggressive institutional accumulators of Ethereum, expanding its treasury and staking footprint as it prepares to roll out proprietary validator infrastructure.

In a series of transactions completed in early January, BitMine added more than 72,000 ETH in multiple tranches worth a combined $227 million, reinforcing a strategy that prioritizes long-term staking yield over short-term price exposure. The purchases lifted the companys staked Ethereum balance to over 827,000 ETH, valued at roughly $2.62 billion.

Key takeaways

• BitMine continues to aggressively accumulate and stake Ethereum rather than trade it.
• Total staked ETH now exceeds 827,000 tokens, valued at over $2.6 billion.
• The strategy emphasizes recurring staking yield instead of price speculation.
• Ethereum exposure is becoming central to BitMines long-term business model.

The pace of accumulation marks a continuation — not an escalation — of BitMine‘s strategy. While recent buys were smaller than December’s weekly average of roughly 96,000 ETH, they signal steady execution rather than a slowdown. As of January 4, the company had already staked more than 659,000 ETH, laying the groundwork for a vertically integrated staking operation.

MAVAN positions BitMine as a staking-first institution

Central to that plan is BitMines upcoming Made in America Validator Network (MAVAN), a proprietary staking platform scheduled to go live in early 2026. According to Chairman Tom Lee, MAVAN is designed to deliver institutional-grade security while capturing staking yield internally rather than outsourcing it.

Lee estimates that once BitMine and its partners fully stake the companys Ethereum holdings, annual staking revenue could reach $374 million, assuming a conservative 2.81% compounded effective staking rate — equivalent to more than $1 million per day in protocol-level rewards.

BitMine now holds approximately 4.14 million ETH, representing about 3.4% of Ethereum‘s total supply. Management has been explicit about its ambition to reach 5%, positioning the company not just as a treasury holder, but as a structural participant in Ethereum’s proof-of-stake economy. The firm reports total holdings of $14.2 billion in cash and digital assets, including $915 million in cash.

Lee has tied the strategy to a long-term macro thesis, reiterating his view that Ethereum could reach $250,000 if Bitcoin eventually trades near $1 million — a forecast that has drawn both enthusiasm and skepticism across markets.

Ethereum itself has started 2026 with renewed momentum. Data from CoinMarketCap shows ETH up nearly 9% over the past week, though still trading about 36% below its all-time high near $4,954. At last check, ETH was changing hands around $3,150.

Equity market volatility reflects capital ambitions

BitMine‘s aggressive treasury strategy has spilled into equity markets. Shares of BMNR rallied sharply last week before pulling back, as investors weighed both the upside of Ethereum exposure and the implications of a controversial proposal to dramatically expand the company’s authorized share count.

The proposal — to raise the cap from 500 million to 50 billion shares — has triggered elevated trading volume and options activity ahead of upcoming earnings and shareholder votes. Management argues the move is essential to finance future capital raises, pursue mergers and acquisitions, and preserve flexibility for potential stock splits as valuation grows.

Despite short-term volatility, BitMine‘s direction is clear: the company is positioning itself as a staking-native Ethereum institution, embedding infrastructure and capital directly into the protocol’s economic layer. If successful, the approach could reshape how public companies interact with proof-of-stake networks — shifting from passive exposure to active participation.

Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.