Ethereum News Today: Bitmine Surpasses 4.1M ETH, Emerges as Top Public Ether Holder

Bitmine Immersion Technologies has surpassed 4.1 million ether in its holdings, according to a press release issued on Monday. This positions the company as the largest publicly owned ether treasury in the world. The firm also holds $1 billion in cash and $23 million in Eightco Holdings, alongside a small Bitcoin stake.

The company's ether holdings now account for 3.4% of the circulating supply of the cryptocurrency, as of December 28. It added over 44,000 ETH in the past week, bringing it closer to its "alchemy of 5%" goal. Thomas Lee, Bitmine's chairman, emphasized the company's role as the largest "fresh money" buyer of ETH.

Bitmine's staking activity is also expanding rapidly. The firm has staked over 408,000 ETH, with plans to stake additional tokens under its Made in America Validator Network (MAVAN). The network is set to launch in early 2026 and is expected to generate approximately $374 million in annual staking revenue at current rates.

Market Strategy and Positioning

Bitmine's aggressive accumulation of ether has positioned it as a key player in the crypto treasury landscape. The company's holdings place it second in the global corporate crypto treasury rankings, behind MicroStrategy's Bitcoin-focused strategy. Bitmine has continued buying during market dips, with recent purchases adding $88 million worth of ETH to its treasury.

The firm's current 4.07 million ETH holdings represent approximately 3.36% of the total supply. This strategic accumulation places Bitmine ahead of other major holders like SharpLink Gaming and The Ether Machine. The company's long-term goal is to control 5% of the ether supply, or about 6 million tokens.

Bitmine's treasury strategy is supported by a strong financial position. The company has a net income of $328 million for the trailing twelve months and $1 billion in cash reserves. This financial flexibility allows it to continue acquiring ether even amid market volatility.

Staking Expansion and Risks

Bitmine has begun staking a portion of its holdings, with a recent deposit of 74,880 ETH into staking contracts. This move reflects a shift in how the company manages its balance sheet, moving from a passive holding to a yield-generating approach. If the firm were to stake its entire treasury, it could generate over $371 million in annual revenue at the current staking rate of 3.12%.

However, staking introduces new risks, particularly related to liquidity and operational management. Unlike cold storage Bitcoin, staked ether is subject to withdrawal delays due to Ethereum's protocol-level mechanics. During periods of volatility, this could expose Bitmine to price swings that a non-staking treasury might avoid.

The company is developing its proprietary staking platform, MAVAN, to mitigate some of these risks. Scheduled for deployment in early 2026, the platform aims to provide secure and efficient staking infrastructure. Thomas Lee emphasized that MAVAN will be a "best-in-class" solution, supporting Bitmine's long-term vision of network participation.

Investor Reactions and Future Outlook

Bitmine's accumulation and staking strategy have drawn both praise and criticism from market analysts. Proponents argue that the firm's approach demonstrates a deep commitment to Ethereum's long-term potential. Critics, however, raise concerns about centralization risks, given Bitmine's growing influence over the network.

The firm has also urged shareholders to support its long-term strategy during its annual meeting on January 15, 2026. In a chairman's message, Lee reiterated the company's focus on expanding its ether holdings and staking infrastructure. He also highlighted the importance of maintaining a strong cash position to navigate potential market downturns.

Looking ahead, Bitmine's strategy could influence broader market sentiment. By purchasing ether during price declines, the company signals confidence in Ethereum's fundamentals. This approach may encourage other investors to adopt a similar strategy during periods of volatility.