TLDR

  • Bitmine’s ETH holdings total 4,110,525 tokens, representing approximately 3.41% of Ethereum’s entire supply.
  • The company acquired 44,463 ETH amid soft year-end market conditions.
  • A total of 408,000 ETH has been staked in line with validator network initiatives.
  • Crypto and cash assets reached $13.2 billion on December 28.

Tom Lee’s Bitmine Immersion Technologies has boosted its Ethereum holdings to more than 4.11 million ETH, which represents roughly 3.41% of the total circulating supply. The firm has also initiated staking of over 408,000 ETH as it advances its validator network strategy for 2026.

Bitmine’s ETH Holdings Rise to Over 4.11 Million

Bitmine Immersion Technologies (BMNR), led by chairman Tom Lee, has raised its Ethereum holdings to 4,110,525 ETH following its most recent acquisition of 44,463 ETH in late December.

Based on the firm’s latest disclosure, it now commands approximately 3.41% of Ethereum’s circulating supply. The transaction was completed during a period of year-end tax-loss selling, which the company characterized as creating advantageous market conditions.

According to Tom Lee, the firm served as the biggest “fresh money” purchaser of ETH during that week. Ether traded at approximately $2,950 when the report was issued, while BMNR shares were valued at about $28.50 following a 13% decline over the week.

Staking Begins with Over 408,000 ETH Committed

In parallel with its accumulation activities, Bitmine has commenced staking its ETH holdings. Over 408,000 ETH is currently active in staking on the Ethereum network. This initiative bolsters the company’s long-term infrastructure development strategy.

The firm confirmed that this staking activity forms part of its groundwork for launching the Made in America Validator Network (), anticipated in early 2026. The validator network will operate on Ethereum’s proof-of-stake consensus mechanism.

Staking additionally enables Bitmine to earn yield on a segment of its holdings while contributing to network security and operations. The company has not indicated how much more ETH it intends to stake in upcoming months.

Strategy to Reach 5% Supply Target in Progress

Bitmine has articulated its objective to ultimately control 5% of the total ETH supply. Having already secured over 3.4%, the company has surpassed the halfway mark toward achieving this target. No specific timeline has been set for completing the remaining acquisitions.

Its recent ETH purchases have been synchronized with year-end market softness. Tax-loss selling by other market participants may have generated lower prices and enhanced liquidity. Bitmine has capitalized on these dynamics, per its statement.

The company has also preserved liquidity through a treasury that includes ETH alongside 192 bitcoin and $1 billion in cash. This financial foundation underpins its ongoing acquisition approach.

BMNR Holdings Now Exceed $13.2 Billion

Bitmine’s combined crypto and cash holdings totaled $13.2 billion as of December 28. The portfolio comprises more than $12 billion in ETH, with the balance consisting of bitcoin and cash. The firm remains a publicly traded company trading under the BMNR ticker.

Notwithstanding the expansion in asset holdings, shares have underperformed relative to broader crypto assets. During the past week, shares fell nearly 13%, while ETH’s price stayed relatively steady near $2,950.

Tom Lee’s methodology indicates a sustained emphasis on Ethereum’s long-term value proposition. The firm’s forthcoming actions are expected to involve additional staking and network development prior to its validator platform debut.