Ethereum News Today: Bitmine Surpasses $13.2B Treasury, Eyes 5% Ethereum Stake

Bitmine Immersion Technologies (NYSE: BMNR) has announced that its Ethereum (ETH) holdings now exceed 4.11 million tokens, making up 3.41% of the total supply according to the report. The company's total crypto and cash holdings have surpassed $13.2 billion, positioning Bitmine as the second-largest global crypto treasury behind Strategy Inc. as reported. The news comes as the company continues its aggressive "Alchemy of 5%" strategy to acquire 5% of the entire Ethereum supply according to analysis.

Bitmine's latest ETH acquisition, amounting to 44,463 tokens in a single week, underscores its commitment to building one of the largest corporate Ethereum treasuries in the world according to market data. The company currently holds 4.11 million ETH, valued at approximately $12.1 billion at $2,948 per token, along with 192 Bitcoin and $23 million in strategic investments as per financial analysis. Chairman Thomas Lee emphasized that Bitmine remains the largest "fresh money" buyer of ETH, despite ongoing crypto market pressures from year-end tax-loss selling according to company statements.

The company is also preparing to launch its Made in America Validator Network (MAVAN) in early 2026, a US-based Ethereum staking infrastructure that will allow it to monetize its massive ETH holdings according to company updates. At full scale, the project could generate over $374 million in annual staking fees, or approximately $1 million per day, based on the current Ethereum staking rate of 2.81% according to industry analysis. This move would shift Bitmine from a passive ETH accumulator to an active participant in the Ethereum network, with institutional-grade staking operations as confirmed by company leadership.

Market Implications and Investor Reactions

BMNR stock has delivered exceptional returns in 2025, with a year-to-date gain of 300.21% according to financial reports. As of December 29, 2025, the stock was trading at $28.81, up $0.50 (+1.76%) at 10:16:52 AM EST according to real-time data. However, technical analysts have noted bearish momentum, with the stock currently trading below all EMAs and exhibiting a descending triangle pattern that could signal a breakdown toward the $23–$25 range if support at $27.96 fails as per technical analysis. Conversely, a breakout above $36.78 could reverse the trend and point toward the $43–$45 zone according to market commentary.

Bitmine's financials reflect its aggressive accumulation strategy and strong balance sheet. The company reported a net income of $328.16 million for fiscal year 2025, with fully diluted earnings per share of $13.39 according to financial disclosures. Institutional support remains strong, with major backers including ARK Invest, Founders Fund, and Kraken, who have consistently aligned with Bitmine's vision of combining balance sheet strength with strategic crypto investments according to industry reports.

Staking and Future Plans

Bitmine has already staked 408,627 ETH through third-party providers, but the full deployment of MAVAN is expected to significantly boost its staking yield. The company has been testing its validator infrastructure and plans to transition to in-house staking operations as MAVAN ramps up according to company updates. The potential for $1 million per day in staking rewards is contingent on several factors, including validator uptime, favorable staking yields, and ETH price stability as per technical analysis.

The company's upcoming Annual Stockholder Meeting, scheduled for January 15, 2026, at the Wynn Las Vegas, will provide further clarity on its governance and strategic roadmap according to company announcements. Shareholders will vote on key proposals, including the election of directors, an increase in authorized shares, and the approval of incentive plans tied to MAVAN's growth ambitions according to meeting details. The meeting is a critical step in aligning executive incentives with long-term shareholder value, particularly as Bitmine moves from accumulation to active staking and yield generation according to strategic analysis.

Risks and Analyst Views

Despite Bitmine's strong financial position and strategic initiatives, investors remain cautious about the broader market environment. The stock currently has a technical rating of 0 out of 10, indicating weak short- and long-term trends according to technical analysis. Analysts have noted high volatility, with a descending triangle pattern suggesting a potential breakdown to the $23–$25 level as per market analysis. While the stock's liquidity remains robust, with an average daily trading volume of $980 million, its recent performance lags behind the S&P 500 and other market benchmarks according to financial data.

Chairman Thomas Lee has been vocal about the challenges posed by year-end tax-loss selling in the crypto and crypto equity markets, which have weighed on prices in recent weeks according to market commentary. The company, however, remains optimistic about its ability to navigate these pressures and continue growing its Ethereum holdings. With the launch of MAVAN on the horizon, Bitmine's strategic shift from accumulation to active yield generation could redefine its role in the broader crypto ecosystem according to strategic analysis.