Bitmine Immersion Technologies reported its ethereum holdings have climbed to 4.243 million tokens, a level the company says represents roughly 3.52% of total ETH supply. This accumulation lifted Bitmine’s total crypto and cash assets to $12.8 billion, according to the firm’s treasury snapshot calculated as of Jan. 25. The update underscores Bitmine’s continued focus on building a large institutional crypto balance sheet.
Bitmine's Ethereum Holdings Reach 4.243 Million Tokens
Bitmine said its ETH stack now totals 4,243,338 tokens, placing ethereum at the center of the company’s balance sheet. That reported figure puts Bitmine within reach of its stated aim to accumulate 5% of circulating ETH, and follows earlier public disclosures about the company’s accumulation, including a 4.144M ETH report published previously. The company presented these numbers as part of a broader treasury update rather than as a market forecast.
Breakdown of Bitmine's Treasury
The treasury snapshot lists 193 bitcoin and $682 million in cash alongside the ethereum holdings, and also notes equity-style “moonshot” investments such as a $200 million stake in Beast Industries. Bitmine frames ethereum as the dominant asset on its balance sheet at prevailing prices cited by the company. Earlier coverage of the firm’s accumulation provides context for this growth, for example the 4.066M ETH report that tracked prior purchases.
Staking and Future Plans
Bitmine reported that more than 2 million ETH are currently staked, a total the company said grew sharply over the previous week. The firm noted annualized staking fees could reach hundreds of millions of dollars once deployment scales, highlighting staking as an increasingly important revenue pillar. Bitmine also plans to launch its Made in America Validator Network (MAVAN) in 2026 as part of its staking and infrastructure push.
Bitmine's Position in the Crypto Treasury Landscape
The company’s holdings make it the world’s largest ethereum treasury and the second-largest crypto treasury overall, trailing only MicroStrategy. By concentrating a large share of its assets in ETH and staking capacity, Bitmine positions itself among major corporate players building institutional crypto exposure. The company presented the update as evidence of a sustained, long-term strategy rather than a short-term trade.
Why this matters
For a miner operating from 1 to 1,000 devices in Russia, Bitmine’s treasury moves do not change how your hardware runs or how you manage power and cooling. At the same time, the scale of institutional accumulation and the growth of staking shown here signal that larger companies are allocating capital to ETH and staking infrastructure, which can affect market structure and the set of available institutional services. Knowing that major firms are expanding staking capacity may be relevant if you hold ETH or evaluate custody and staking options.
What to do?
Keep your operational checklist focused: monitor electricity costs, check that ventilation and firmware are up to date, and maintain reliable remote monitoring for your rigs. If you hold ETH or are considering exposure to ETH, review your custody and staking choices and follow updates about Bitmine’s MAVAN launch to understand new validator options. Finally, track official treasury disclosures from large holders to stay informed about market concentration and available infrastructure services.
