Bitmine Begins Staking ETH As Latest Accumulation Pushes Holdings To 3.4% of Ether Supply

Bitmine now holds 4.11 million ETH coins, or 3.41% of Ethereum’s total supply, following its latest acquisition over the past week. In addition, the company has staked 408,627 ETH coins, which have begun generating yield as it prepares for its MAVAN rollout in Q1 2026.

Bitmine Adds 44.4k ETH, Pushes Holdings To 4.11M

Bitmine Immersion Technologies (ticker BMNR) announced that it has added another 44,463 ETH coins over the past week. Thomas “Tom” Lee, Chairman of Bitmine, speaking on the latest purchase, said that his company continues “to be the largest ‘fresh money’ buyer of ETH in the World.”

Lee adds that year-end tax-loss selling created the opportunity for Bitmine to add more ETH to its portfolio. Bitmine, the largest ETH treasury in the world, continues with its aggressive buy strategy, even when others like ETHZilla have begun selling their holdings.

According to the company’s latest report, it now holds 4,110,525 ETH or roughly 3.41% of Ethereum’s circulating supply, pushing it closer to its target of 5%. The company accumulated its entire Ethereum bag at an average price of $2,948 per ETH, slightly higher than its current price of $2,951, according to CoinMarketCap. 

Bitmine’s ETH treasury is valued at over $12 billion based on Ethereum’s current price. Its total crypto and cash holdings stand at $13.2 billion, including 4,110,525 ETH, 192 bitcoin, and $1 billion in cash as of December 28.

Bitmine Begins ETH Staking Ahead of MAVAN Launch

In addition to its latest ETH purchase, the Nevada-based firm revealed that it has also begun putting its assets to use, deploying 408,627 ETH. ETH staking supports the security of the Ethereum blockchain through its proof-of-stake validation mechanism. 

While Bitmine staked its ETH across three staking providers, it has revealed that it plans to move and stake more on its own Made in America Validator Network (MAVAN), a purpose-built platform for native ETH staking. BitMine announced that MAVAN is set to launch in early Q1 2026 after assessing multiple institutional staking providers across safety, reliability, and reward generation.

According to Tom Lee, MAVAN will be the ‘best-in-class’ solution that offers a secure staking infrastructure. He also adds that when the company scales up its ETH target (staking fully on MAVAN and its staking partners), Bitmine will look to earn an annual ETH staking fee of $374 million, using a 2.81% composite Ethereum staking rate, or more than $1 million per day.

Bitmine has already initiated a live pilot test of MAVAN, working with three selected partners to track real-time performance before committing more assets. When MAVAN goes live, the company aims to stake more ETH in a move that prioritizes long-term value for its shareholders.

Through staking, Bitmine aims to optimize yield and income on its ETH holdings. The company also revealed that it will strategically invest its balance sheet in ‘moonshots’ and leverage its strong community and market position to generate additional returns for its shareholders.