Bitmine Acquires 32,977 ETH, Strengthens Position as Top ETH Holder

TLDR

• Bitmine added 32,977 ETH in the past week, bringing its total holdings to 4.1435 million ETH.
• The company now controls 3.43 percent of the total Ethereum supply.
• Bitmine holds $14.2 billion in combined crypto and cash assets.
• The firm has staked 659,219 ETH, valued at around $2.1 billion.
• Bitmine reported a weekly increase of 250,592 ETH in staking activity.

Bitmine Immersion Technologies has raised its Ethereum holdings to 4.1435 million ETH after purchasing 32,977 ETH last week, bringing its crypto and cash reserves to $14.2 billion, while its staked ETH total also surged, showing clear activity ahead of its planned validator network launch in 2026.

Bitmine Raises ETH Balance, Strengthens Treasury Holdings

Bitmine has acquired 32,977 ETH in the past week, raising its total ETH holdings to 4.1435 million. This amount accounts for 3.43% of the current 120.7 million ETH supply. The company also holds 192 BTC and $915 million in cash.

The firm’s digital asset treasury now stands at $14.2 billion, which includes its crypto and fiat reserves. Bitmine has extended its dominance in Ethereum holdings across digital asset treasuries. It remains the top ETH-holding treasury, ahead of SharpLink and other firms.

According to on-chain data, Bitmine’s ETH accumulation has continued at a faster pace than its peers. “We acquired 32,977 ETH in the past week,” said Chairman Thomas Lee. He emphasized Bitmine’s consistent strategy of acquiring ETH aggressively.

The company has staked a total of 659,219 ETH, currently worth $2.1 billion based on the $3,196 ETH price. Bitmine also reported an increase of 250,592 ETH staked over the past week alone. The firm now uses three staking providers.

Bitmine’s upcoming MAVAN staking infrastructure will officially launch in 2026. The initiative will centralize ETH staking under the Made in America Validator Network. Lee stated, “MAVAN stakes the firm’s ETH holdings at an annual fee of $374 million.”

Bitmine applies a 2.81% CESR to calculate its annual staking revenue. It continues to optimize staking yield while preparing MAVAN for full deployment. The company positions MAVAN as a superior validator solution.

Bitmine Calls for Shareholder Support Ahead of Annual Meeting

Lee issued a message urging shareholders to support an amendment to increase authorized shares. Bitmine seeks this increase to allow capital market activities, future share splits, and potential acquisitions. The vote will occur during the Annual Meeting on January 15.

The meeting will take place at the Wynn Las Vegas in Nevada. Shareholders are encouraged to vote and attend in person. The agenda includes electing eight directors and approving the 2025 Omnibus Incentive Plan.

Bitmine also aims to approve performance-based compensation for Lee. The firm remains focused on enhancing shareholder value through ETH accumulation. “We are focused on accretively acquiring ETH per share,” Lee stated.

Bitmine is currently ranked as the leading Ethereum treasury holder. It surpasses SharpLink with 859,853 ETH, and The Ether Machine with 496,712 ETH. Bit Digital and Coinbase follow with 153,546 ETH and 148,715 ETH, respectively.

Bitmine is also the second-largest treasury firm globally, behind Strategy, which holds 672,497 BTC. The company’s ETH-focused strategy has cemented its market position. It aims to use its assets to deliver future returns.

Bitmine’s stock sees high trading activity, with an average daily volume of $980 million. The stock ranks 44th among 5,704 U.S.-listed companies. It stands between IBM and Home Depot in trading activity.

Fundstrat data confirms Bitmine’s equity remains highly active. The firm sees strong interest from institutional and retail investors. Bitmine continues leveraging its position for capital growth.

Bitmine’s strategy includes optimizing income and exploring high-growth opportunities. The company is also focused on performance and yield. Its leadership continues to emphasize disciplined capital allocation.

Lee cited growing interest in crypto among younger generations. He also noted rising demand for authenticity in the AI sector. Bitmine sees this as positive momentum for Ethereum adoption.

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Source: https://blockonomi.com/bitmine-acquires-32977-eth-strengthens-position-as-top-eth-holder/