BitMine’s Ethereum Bet Swells to $13B as Staking Footprint Surges
Ethereum-focused treasury firm BitMine Immersion has pushed its crypto holdings to new highs after another week of aggressive buying, lifting its total Ethereum balance to 4,167,768 ETH—valued at roughly $13 billion at current market prices.
The Tom Lee-chaired company added 24,266 ETH since its previous update on Jan. 5, bringing its combined crypto and cash position to about $14 billion as of Monday. While BitMine did not reveal its average entry price, the latest ETH purchases alone are worth an estimated $75 million at today’s valuations.
Beyond Ethereum, the firm reported holding 193 bitcoin worth around $17.5 million, a $23 million equity stake in Worldcoin-linked treasury firm Eightco, and nearly $1 billion in cash reserves. BitMine’s ETH stack now represents roughly 3.45% of Ethereum’s circulating supply, which stands near 120.7 million tokens.
Staking has become an increasingly central pillar of the strategy. BitMine disclosed that it has staked 1,256,083 ETH, nearly doubling its staking position in a single week after adding close to 600,000 ETH. The firm says its activity has been a major contributor to the recent congestion in Ethereum’s validator entry queue, even as exit demand has faded.
BitMine currently ranks as the largest Ethereum treasury holder, ahead of SharpLink and The Ether Machine, according to industry data. Across the broader public crypto treasury landscape, it trails only Strategy, whose bitcoin holdings exceed 687,000 BTC. BitMine’s longer-term objective is even more ambitious: acquiring 5% of Ethereum’s circulating supply, or just over 6 million ETH.
The expansion comes amid growing optimism around Ethereum’s medium-term prospects. Market forecasts pointing to stronger network fundamentals, real-world asset tokenization, and rising stablecoin usage have fueled expectations that Ethereum could outperform bitcoin in the next cycle.
Echoing that view, BitMine leadership has framed 2026 as a pivotal recovery year for crypto markets, positioning Ethereum as a core beneficiary as blockchain infrastructure increasingly intersects with traditional finance. Despite the strategic momentum, BitMine’s stock has faced near-term pressure, sliding over the past week before stabilizing in early Monday trading.