Bitmine's ETH Treasury Surpasses 3.48% of Total Supply
Bitmine has further solidified its position as the world’s largest corporate Ethereum holder with a recent purchase, confirmed on Monday. This acquisition marks a significant step in the company's aggressive expansion of its crypto balance sheet, which now totals $14.5 billion across Ethereum (ETH), Bitcoin (BTC), "moonshot" equity positions, and cash reserves.
As of January 19th, 5:00 p.m. ET, Bitmine's Ethereum holdings reached 4,203,036 ETH, with each token valued at $3,211. This substantial amount represents 3.48% of Ethereum's total circulating supply, which stands at 120.7 million ETH. The company is now approximately 70% towards its strategic ownership target of 5% of the total supply, an objective that CEO Lee believes will provide unparalleled leverage within the Ethereum ecosystem.
In addition to its significant ETH holdings, Bitmine also possesses 193 BTC and $979 million in cash. The company also holds a $22 million stake in Eightco Holdings, which is categorized as part of its "moonshots" portfolio. These combined assets contribute to Bitmine’s total crypto and cash holdings of $14.5 billion, not including a recently announced $200 million investment in Beast Industries that is scheduled to close this week.
Staking Operations Intensify in Preparation for MAVAN Launch
Beyond asset accumulation, Bitmine is actively scaling its staking operations. The company currently has 1,838,003 ETH staked, valued at approximately $5.9 billion. This represents an increase of 581,920 ETH in just the past week.
The current staked amount constitutes less than half of Bitmine's total ETH holdings, indicating that a substantial portion of potential staking revenue remains untapped until the company’s commercial infrastructure is fully operational. CEO Lee projects that once all ETH is staked across MAVAN and partner providers, Bitmine is positioned to generate an estimated $374 million annually in staking rewards, based on the current 2.81% CESR (Consensus-Enabled Staking Rewards).
Lee emphasized the scale of Bitmine's staking efforts, stating, "Bitmine has staked more ETH than other entities in the world." He also confirmed that the company’s "Made in America Validator Network (MAVAN)" is on schedule for deployment in early 2026.
Shareholders Enthusiastically Approve All Proposals
Bitmine also experienced a significant victory at its annual stockholder meeting held on January 15th in Las Vegas. All four proposed measures were approved with overwhelming support from shareholders. Notably, Proposal #2, which aimed to increase authorized shares, garnered 81% of the votes cast and secured the approval of 52.2% of all outstanding shares.
Lee attributed this strong outcome to the deep trust of the company's shareholder base, which comprises over 500,000 retail investors. He reiterated Bitmine's policy of not selling shares below its net asset value (mNAV), framing the vote as a clear mandate for continued aggressive growth.
Bitmine Among the Most Actively Traded Stocks in the U.S.
Bitmine continues to lead trading activity among publicly traded crypto-native companies. Data from Fundstrat indicates that BMNR averages $1.5 billion in daily trading volume, ranking it as the 60th most traded stock in the United States. This places it ahead of companies like Accenture and just behind American Express.
The company maintains its position as the number one Ethereum treasury globally and the second-largest corporate crypto treasury overall, trailing only Strategy Inc. (formerly MicroStrategy).

