BitMine Immersion Technologies has dramatically expanded its Ethereum holdings, adding 44,463 ETH over the past week and bringing its total stash to about 4,110,525 ETH — roughly 3.41% of the total circulating supply. The accumulation moves the crypto treasury company roughly two-thirds of the way toward its long-term goal of owning 5% of all ETH, underscoring strong institutional conviction in Ethereum as a strategic asset.
Latest Accumulation and Supply Milestone
According to an official company announcement, BitMine acquired 44,463 Ether in a single week, reportedly capitalizing on year-end market conditions to add to its crypto treasury. The company’s total ETH holdings now exceed 4.11 million tokens, representing approximately 3.41% of the 120.7 million ETH circulating supply.
The fresh purchase reaffirms BitMine’s ongoing strategy of scaling its Ethereum position, even as broader digital asset investment products have seen outflows in recent weeks.
“Alchemy of 5%” — BitMine’s Long-Term Strategy
BitMine’s Chairman Thomas “Tom” Lee has characterized the company’s accumulation objective, often referred to internally as the “Alchemy of 5%,” reflecting a target of owning 5% of all ETH in circulation. Reaching that level would place BitMine among the largest corporate holders of Ethereum globally, potentially influencing perceptions of supply dynamics in markets.
Despite year-end tax-loss selling pressures and broader market volatility, BitMine continues to act as one of the largest “fresh money” buyers of ETH in the world, according to Lee.
Staking, Stash and Strategic Growth
In addition to accumulation, BitMine has begun staking portions of its ETH holdings. As of late December, the company had staked over 408,000 ETH, roughly 10% of its total Ethereum position, via existing protocols while it prepares for the planned launch of its Made in America Validator Network (MAVAN) in early 2026.
Potential staking fees from BitMine’s total ETH could be significant; based on current composite Ethereum staking yields (around 2.8 %), annualized staking fees could approach hundreds of millions of dollars once all staked, emphasizing both capital appreciation and passive income strategies.
Market Implications and Institutional Demand
BitMine’s accumulation trend highlights a divergence between institutional large-scale purchases of crypto for treasury strategy and retail or institutional investment products, which have seen fluctuating interest and periodic outflows. The company’s growing ETH treasury — now a large fraction of the global supply — underscores institutional confidence in Ethereum’s long-term value proposition as a base layer for DeFi, stablecoins, tokenization and other blockchain use cases.
BitMine’s total crypto and cash reserves now exceed $13.2 billion, spread across its ETH position, Bitcoin holdings, strategic “moonshot” stakes and liquidity reserves — making it one of the largest corporate crypto treasuries worldwide.
Looking Ahead
With aggressive accumulation continuing through year-end and its staking network scheduled to go live in early 2026, BitMine aims to not only achieve its 5% supply target but also generate diversified returns from its Ethereum position. How this large concentrated holding might influence price dynamics, staking yields, or broader market narratives will be closely watched by investors and analysts alike as the new year unfolds.
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