Tom Lee-chaired Ethereum treasury company BitMine Immersion’s holdings have reached 4,167,768 ETH — worth around $13 billion at current prices — following its latest weekly acquisitions.
BitMine bought 24,266 ETH since its last update on Jan. 5, reporting its total crypto and cash holdings stood at $14 billion on Monday. BitMine did not disclose the average purchase price, but at current prices, its latest acquisition is worth around $75.4 million.
As of Jan. 11, BitMine also holds 193 BTC ($17.5 million), a $23 million stake in WLD treasury firm Eightco, and total cash of $988 million. The company’s ETH holdings are equivalent to around 3.45% of Ethereum’s current circulating supply, which sits at approximately 120.7 million ETH, according to The Block’s price page.
Meanwhile, BitMine’s total staked Ethereum stands at 1,256,083 ETH — an increase of 596,864 ETH over the past week as its staking position nearly doubled.
“Bitmine has staked more ETH than other entities in the world,” the firm claimed on Monday. BitMine has been a key factor in the Ethereum validator entry queue’s surge in recent weeks as the exit queue concurrently headed toward zero.
Outpacing its peers
BitMine is currently the largest Ethereum treasury holder, followed by Joe Lubin’s SharpLink and The Ether Machine, with approximately 863,021 ETH and 496,712 ETH, respectively, according to SER data. BitMine is also the second-largest public crypto treasury company overall, behind Michael Saylor’s Strategy, which holds 687,410 BTC ($62 billion) — equivalent to more than 3% of bitcoin’s total 21 million supply — following Strategy’s latest $1.25 billion acquisition announcement on Monday.
BitMine ultimately targets acquiring 5% of the circulating ETH supply, currently equivalent to around 6.04 million ETH.
‘2026 will be the year of Ethereum’
BitMine’s latest acquisition announcement comes after Standard Chartered Global Head of Digital Assets Research, Geoffrey Kendrick, said, “2026 will be the year of Ethereum,” citing improving relative fundamentals even as weaker Bitcoin performance has weighed on the broader digital asset market. Kendrick forecasts Ethereum outperformance versus Bitcoin this year, citing network effects and growing real-world asset adoption, with a $7,500 target by year-end.
BitMine Chair Tom Lee seemingly agreed.
“2026 augurs many positive things for crypto with stablecoin adoption and tokenization driving to make blockchain the settlement layer of Wall Street, particularly favoring Ethereum,” Lee said in Monday’s announcement. “We continue to view the leverage reset post Oct. 10, 2025 as akin to the ‘mini crypto winter.’ 2026 is the year crypto prices recover and with stronger gains in 2027-2028.”
BitMine’s stock fell 11.5% over the past week, according to The Block’s BitMine price page. BMNR was up 0.3% in pre-market trading on Monday.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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