BitMine Deepens Ethereum Bet With $108M Buy as Markets Rattle Over Tariff Fears

21. Jan 2026 Posted by Laurent C. on News

Bitmine Immersion Technologies ramped up its Ethereum accumulation last week, purchasing roughly 35,268 ETH worth more than $108 million, reinforcing its position as one of the largest corporate holders of the asset. The move came even as its shares fell sharply on Tuesday, pressured by broader market unease tied to fresh U.S. tariff threats.

Following the latest acquisition, BitMine now controls over 4.2 million ETH — close to 3.5% of Ethereum’s circulating supply — with a combined valuation exceeding $12.8 billion. Alongside its Ethereum holdings, the company also holds 192 Bitcoin valued at about $17.4 million and nearly $1 billion in cash reserves.

The company has also been aggressively increasing the amount of ETH it stakes on the network. Its staked balance jumped from roughly 1.25 million ETH to about 1.83 million ETH in a single week, representing nearly 44% of its total Ethereum treasury. Once fully deployed, the firm expects staking rewards to generate more than $1 million in daily revenue.

BitMine currently relies on multiple external staking providers but plans to transition toward its own in-house infrastructure. The company expects to launch its proprietary staking platform, dubbed the Made in America Validator Network (MAVAN), in early 2026, aiming to consolidate operations and enhance security at scale.

Despite its expanding crypto footprint, BitMine’s stock dropped more than 7% on Tuesday as global markets pulled back. Investors reacted to renewed trade war concerns after President Donald Trump warned of new tariffs targeting several European Union countries and the U.K., including the possibility of steep duties on French wine. The uncertainty also weighed on major indices, with both the S&P 500 and Nasdaq posting notable declines.

Ethereum itself traded around $3,026, down nearly 6% on the day and still well below its previous all-time high, underscoring the contrast between BitMine’s long-term accumulation strategy and short-term market volatility.