BitMine’s Ethereum Holdings Now Exceed 4.2 Million ETH with 40% Staked

TLDR

• BitMine’s ether holdings exceed 4.2 million ETH, worth around $12.8 billion.
• The company’s staked ETH balance grows to over 1.8 million ETH.
• BitMine’s ETH strategy aims to acquire 5% of Ethereum’s total supply.
• BitMine holds 193 bitcoins and $979 million in cash alongside its ETH.

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Tom Lee’s BitMine has expanded its Ethereum holdings to more than 4.2 million ETH, following a series of acquisitions. As of January 20, 2026, the company’s total ether holdings stand at 4,203,036 ETH, a notable increase of 35,268 ETH in just one week. The current value of these holdings is approximately $12.8 billion, with BitMine now holding about 3.5% of Ethereum’s circulating supply, which is around 120.7 million ETH.

The company’s expansion into Ethereum is part of a larger strategy to increase its presence in the cryptocurrency space. BitMine’s holdings now make it the largest Ethereum treasury holder, ahead of competitors like SharpLink and The Ether Machine. It is also ranked as the second-largest public cryptocurrency treasury company, following Bitcoin-focused Strategy.

Staked Ethereum and MAVAN Network Launch

In addition to its growing ETH holdings, BitMine has significantly increased its staked ether balance. As of the latest update, the company has staked 1,838,003 ETH, up by 581,920 ETH from the previous week. This increase reflects BitMine’s ongoing efforts to expand across multiple staking providers ahead of the upcoming launch of its Made-in-America Validator Network (MAVAN), which is expected to roll out in early 2026.

BitMine’s staked ether is projected to generate over $370 million in annual staking rewards once fully deployed. This substantial staking position places BitMine as the largest entity in the world in terms of staked Ethereum, a point highlighted by the company’s chairman, Tom Lee, in a recent company release.

Shareholder Support for BitMine’s ETH Strategy

At BitMine’s recent annual meeting, shareholders showed strong support for the company’s ETH accumulation strategy. Four key proposals were put forward, including an increase in authorized shares, which passed with 81% approval. This approval signals that investors are aligned with BitMine’s approach to continue acquiring Ethereum without issuing stock below its net asset value.

Lee emphasized that this move allows the company to fund its Ethereum acquisition strategy without diluting shareholders’ equity. BitMine’s long-term goal remains to accumulate 5% of Ethereum’s circulating supply, a target that would require acquiring approximately 6 million ETH at current issuance rates.

Market Context and BitMine’s Position

The latest update from BitMine comes amidst a challenging period in both equities and cryptocurrency markets. Shares of BMNR, BitMine’s publicly traded stock, dropped more than 7% when markets opened on January 20, 2026. Ethereum’s price also slipped to around $3,050, reflecting broader market tensions fueled by geopolitical uncertainties.

Despite these market fluctuations, BitMine’s strategy to accumulate Ethereum and expand its staking efforts continues to position it as a leader in the sector. The company’s significant cash reserves, which total $979 million, offer further stability as it navigates market volatility and works towards its long-term objectives.

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