Ethereum News Today: BitMine's 'Alchemy of 5%' Targets Ethereum Domination as Treasury Hits $11B

BitMine Immersion (BMNR) reported a record $328 million net income for fiscal year 2025, driven by robust Bitcoin and Ethereum mining operations and strategic treasury management, as the company announced plans to launch its MAVAN staking infrastructure in early 2026. The New York-based firm, which operates in low-cost energy regions across Trinidad and Texas, declared an annual dividend of $0.01 per share - the first such move by a large-cap crypto company - highlighting its commitment to shareholder returns.

The results, which included a fully diluted EPS of $13.39, underscore BitMine's dominance in crypto asset accumulation. The company now holds 3.6 million ETH, valued at approximately $11.12 billion at current prices, making it the largest Ethereum treasury globally. BitMine's chairman, Thomas "Tom" Lee, emphasized the firm's confidence in Ethereum's long-term value, despite recent market volatility, and outlined plans to scale its staking operations through the MAVAN platform. The staking initiative, which entered a pilot phase with three institutional partners, aims to optimize yield generation and secure validator network performance before a full launch in Q1 2026.

BitMine's institutional backing further solidifies its market position. Prominent investors including ARK's Cathie Wood, Founders Fund, and Pantera have supported the company's strategy to acquire 5% of Ethereum's supply - a target Lee dubbed the "Alchemy of 5%" according to market analysis. The firm's balance sheet also includes $607 million in unencumbered cash and a $37 million stake in Eightco Holdings, contributing to a total portfolio value of $11.8 billion.

The crypto landscape remains challenging, with Bitcoin trading near $81,000 and Ethereum prices fluctuating amid broader market corrections. However, BitMine's focus on treasury growth and staking innovation aligns with a broader trend of institutional adoption. Competitors like Canaan, a Bitcoin mining hardware firm, also reported strong Q3 results, including a 104% revenue surge to $150.5 million and a return to positive gross profit.

BitMine's strategic moves come as regulatory developments gain momentum. The proposed U.S. bill allowing Bitcoin payments for federal taxes and the SEC's Project Crypto initiative could reshape market dynamics. Lee, in his November chairman's message, noted that regulatory clarity and Ethereum's upcoming Fusaka upgrade could catalyze the next phase of crypto growth.

The company's annual shareholder meeting, scheduled for January 15, 2026, at the Wynn Las Vegas, will likely address its staking roadmap and treasury strategy. With MAVAN positioned to enhance Ethereum yield generation and a diversified institutional investor base, BitMine aims to capitalize on crypto's evolving infrastructure and regulatory environment.