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Bitmine Immersion Technologies (BMNR) has taken another oversized step into the crypto treasury race, revealing ethereum holdings that now rival sovereign-scale balance sheets.
Bitmine Ramps up Ethereum Accumulation
Bitmine said on Monday that its ethereum ( $ETH) holdings have climbed to 4.243 million tokens, helping lift total crypto and cash assets to $12.8 billion as the company doubles down on its long-term digital-asset strategy.
Bitmine shared the firm’s treasury snapshot, calculated as of Jan. 25, shows 4,243,338 $ETH alongside 193 bitcoin, $682 million in cash, and additional equity-style “moonshot” investments, including a $200 million stake in Beast Industries. At prevailing prices cited by the company, ethereum alone accounts for the overwhelming share of Bitmine’s balance sheet.
The company said its $ETH stack represents about 3.52% of total ethereum supply, putting Bitmine within striking distance of its stated ambition to accumulate 5% of all $ETH in circulation. That pace has turned BMNR into the largest ethereum treasury holder globally, positioning it as a heavyweight alongside bitcoin-focused corporate treasuries.
Staking is also becoming a meaningful pillar. Bitmine reported more than 2 million $ETH are now staked, a figure that grew sharply over the past week, with annualized staking fees potentially reaching hundreds of millions of dollars once deployment scales. The company plans to launch its Made in America Validator Network (MAVAN) later this year.
Chairman Tom Lee tied the strategy to growing institutional acceptance of blockchain infrastructure, pointing to global policymakers and financial leaders discussing tokenization and onchain settlement at Davos. In his view, ethereum remains the preferred network for Wall Street experimentation and deployment.
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Beyond the balance sheet, Bitmine highlighted its stock liquidity, noting BMNR now ranks among the most actively traded U.S. equities by dollar volume, a metric the company says supports its ability to continue scaling its crypto net asset value per share.
Bitmine’s holdings make it the world’s largest ethereum treasury and the second-largest crypto treasury overall, trailing only Strategy Inc., pointing to how aggressively corporate players are positioning around digital assets as financial infrastructure.
FAQ ❓
- How much ethereum does Bitmine hold?Bitmine reported ethereum holdings of about 4.243 million $ETH.
- What is Bitmine’s total treasury value?The company said total crypto and cash holdings stand at roughly $12.8 billion.
- How much $ETH is staked by Bitmine?More than 2 million $ETH are currently staked, according to the company.
- Why is Bitmine focused on ethereum?Bitmine views ethereum as the primary blockchain for institutional tokenization and financial use cases.