BitMine Adds 19,200 ETH, Total Staked Balance Surpasses $2.6 Billion

Highlights:

• BitMine added 19,200 ETH, raising the total staked balance above $2.6 billion.
• The company holds 4.07 million ETH, 3.36% of Ethereum’s total supply.
• MAVAN staking network could earn BitMine $374 million yearly at a 2.81% yield.

BitMine Immersion Technologies bought more Ether in early January, showing continued confidence despite expectations of short-term weakness. The company added 19,200 ETH, worth about $60.85 million, bringing its total staked balance to over $2.6 billion, according to Onchain Lens on January 8.

Currently, the company holds 4.07 million ETH, valued at $12.6 billion, or 3.36% of total supply. It also still has $915 million in cash to buy more as it aims for 5% of Ethereum’s supply. Meanwhile, 68 Ether reserve firms hold about 6.81 million ETH, worth $21.4 billion, or 5.6% of supply.

Compared to them, BitMine’s holdings are a large share, especially versus peers like SharpLink Gaming. Besides Ethereum, BitMine holds 192 Bitcoin valued at $17.3 million, a $25 million stake in WLD treasury firm Eightco, and $915 million in cash as of 4 January. The company said its total crypto, cash, and strategic holdings have reached $14.2 billion.

BitMine Plans MAVAN Network to Boost Ethereum Staking Rewards in 2026

BitMine is preparing to launch its Made-in-America Validator Network (MAVAN) to run Ethereum validators in the US. Although rollout was planned for Q1 2026, the validator entry queue has faced congestion due to large institutional deposits like BitMine’s. Chairman of BitMine, Tom Lee, said that when MAVAN and its partners fully stake BitMine’s ETH, the yearly staking rewards could reach $374 million at a 2.81% CESR, which is more than $1 million daily. 

Tom Lee said:

BitMine’s staking push began in late December. The company first staked 74,880 ETH on December 27. Since then, it added 82,560 ETH in early January and 186,336 ETH on January 6. With the latest stake, almost one-fifth of BitMine’s ETH is now actively staked. Ethereum’s current staking yield is around 2.8%, meaning annual returns could reach tens of millions if BitMine keeps staking at this pace.

Reactions to concentrated staking have been mixed, with some analysts warning it may increase centralization. BitMine is also asking shareholders to approve more authorized shares at its 15 January meeting. Tom Lee is expected to share more on staking plans, MAVAN rollout, and overall Ethereum strategy.

Ethereum Whales Boost Holdings as Price Gains 4% This Week

Whales, or large cryptocurrency investors, have been increasing their Ether holdings, according to Nansen. Over the past week, whales bought $11.2 million worth of Ether across 38 wallets, while new wallets added about $1.16 billion in total.

However, smart money traders sold $9.48 million during the same period, Nansen reported. As per CoinMarketCap, Ethereum’s price rose 4.4% over the past seven days in 2026. Currently, ETH trades at $3,114, up 1.6% from last month. However, the price is still about 37% below its previous all-time high of $4,953.

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