BitMine Immersion Technologies, the world’s largest Ethereum treasury holder, has grown its ether holdings to more than 4.2 million ETH following another week of acquisitions.
As of Jan. 20, BitMine (Nasdaq: BMNR) holds a total of 4,203,036 ETH after adding 35,268 ether over the past week, according to a company update released Tuesday.
At current prices, that stash is worth roughly $12.8 billion, with the company estimating its ether holdings represent nearly 3.5% of Ethereum’s circulating supply, which stands at about 120.7 million ETH.
Alongside ether, BitMine holds 193 bitcoins worth $17.5 million, a roughly $22 million stake in Eightco, and $979 million in cash, bringing total crypto and cash holdings to approximately $14.5 billion.
Meanwhile, BitMine’s staked ether balance climbed to 1,838,003 ETH, up 581,920 ETH over the past week. The company said the increase reflects continued expansion across multiple staking providers ahead of the planned launch of its Made-in-America Validator Network, or MAVAN, which is expected to roll out in early 2026.
“BitMine has staked more ETH than any other entity in the world,” chair Tom Lee said in the release. At current network rates, the company estimates its staked ether could generate more than $370 million in annual staking rewards once fully deployed.
Adding more distance
BitMine remains the largest known Ethereum treasury holder, well ahead of rivals such as SharpLink and The Ether Machine, and ranks as the second-largest public crypto treasury company overall behind bitcoin-focused Strategy, according to The Block data.
The company reiterated its long-term goal of acquiring 5% of Ethereum’s circulating supply, equivalent to roughly 6 million ETH at current issuance levels.
BitMine also pointed out that shareholders approved all four proposals at its Jan. 15 annual meeting, including a measure to increase authorized shares, which passed with 81% of votes cast in favor. Lee said the vote signaled investor support for the company’s ETH accumulation strategy and its stated policy of not issuing shares below net asset value.
Market slide
BitMine’s update comes amid a broad sell-off across both equities and crypto markets. BMNR shares were down more than 7% when markets opened on Tuesday, changing hands below $29, while ether slipped to roughly $3,050.
Ethereum (ETH) price chart. Source: The Block/TradingView
The risk-off move followed renewed geopolitical tensions after U.S. President Donald Trump said he would follow through on proposed tariffs against several European and NATO countries tied to disputes over Greenland, weighing on global markets early Tuesday.
© 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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