TLDR
- BitMine purchased 24,266 ETH in the past week, bringing total holdings to 4.17 million ETH worth approximately $13 billion
- The company now owns 3.4% of Ethereum’s circulating supply and targets reaching 5% ownership
- BitMine’s staked ETH nearly doubled to 1.26 million tokens as it develops its own staking platform for early 2026
- Total crypto and cash holdings stand at $14 billion, including 193 BTC and $988 million in cash
- Chairman Tom Lee is pushing shareholders to approve expanded authorized shares at Thursday’s annual meeting
BitMine Immersion Technologies grabbed another chunk of Ethereum last week. The company added 24,266 ETH to its treasury, pushing total holdings to 4,167,768 tokens.
🚨NEW: Tom Lee’s BitMine buys 24,266 ETH worth $75 MILLION. pic.twitter.com/ZPa2wR0Dbd
— Coin Bureau (@coinbureau) January 12, 2026
At current prices, that’s roughly $13 billion in Ether alone. The purchase brings BitMine’s share of Ethereum’s circulating supply to 3.4%.
The company disclosed total crypto and cash holdings of $14 billion as of Monday. Beyond its massive Ether position, BitMine holds 193 Bitcoin valued at $17.5 million and a $23 million stake in Eightco Holdings. Cash reserves stand at $988 million.
Bitmine Immersion Technologies, Inc., BMNR
BitMine didn’t reveal the average price paid for the latest 24,266 ETH purchase. At current market rates around $3,100 per token, the acquisition would be worth approximately $75.4 million.
The company maintains its aggressive accumulation strategy. Chairman Tom Lee wants BitMine to eventually own 5% of Ethereum’s total supply. That target translates to roughly 6 million ETH based on current circulation of approximately 120.7 million tokens.
BitMine shares traded up 3% in early Monday trading. Ether itself declined 3.3% over the past seven days, hovering near the $3,100 level.
Staking Activity Nearly Doubles
BitMine’s staking operations saw dramatic growth over the past week. The company now has 1,256,083 ETH staked, up 596,864 tokens from the previous update.
That jump nearly doubled the company’s staking position in just seven days. BitMine claims it has staked more ETH than any other entity globally.
The company is building its own staking platform. BitMine plans to launch the platform in early 2026.
Staking lets cryptocurrency holders lock up tokens to support blockchain network operations. In return, they earn yield on their staked assets. BitMine’s aggressive staking push has contributed to a surge in Ethereum’s validator entry queue while the exit queue approaches zero.
Annual Meeting Sets Stage for Strategy Vote
Tom Lee issued renewed calls for shareholder support ahead of Thursday’s annual meeting in Las Vegas. The chairman wants approval to increase authorized shares.
Lee argues the share increase is essential for continuing BitMine’s Ether acquisition strategy. The company’s charter requires approval from a majority of outstanding shares.
Without additional authorization, Lee warned that BitMine’s ability to keep buying Ether could face limits. The vote will determine whether the company can maintain its current pace of accumulation.
BitMine dominates the Ethereum treasury company space by a wide margin. Its 4.17 million ETH dwarfs second-place SharpLink’s 864,840 tokens and The Ether Machine’s roughly 500,000 ETH.
On the Bitcoin side, Michael Saylor’s Strategy remains the clear leader. Strategy holds 687,410 BTC worth about $62 billion, representing over 3% of Bitcoin’s total 21 million supply. Strategy added 13,627 BTC last week for $1.25 billion in its largest purchase since July.
Lee expressed confidence about the crypto market’s direction. He called 2026 “the year crypto prices recover” and predicted stronger gains in 2027-2028.
The chairman cited stablecoin adoption and tokenization as positive drivers. He sees blockchain becoming “the settlement layer of Wall Street,” which he believes particularly favors Ethereum.
Standard Chartered’s Geoffrey Kendrick echoed optimism for Ethereum, forecasting a $7,500 price target by year-end. Kendrick expects Ethereum to outperform Bitcoin in 2026 based on network effects and real-world asset adoption.
BitMine stock fell 11.5% over the past week despite the company’s continued Ether accumulation and staking expansion.
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