Bitmine Now Holds 4.17 Million ETH, 3.45% Ethereum’s Total Supply

Key Notes

• The company stakes 1.26 million ETH while pursuing shareholder approval to expand authorized shares for continued growth.
• Bitmine’s $14 billion treasury ranks second globally behind Strategy, with daily trading volume reaching $1.3 billion.
• MAVAN staking infrastructure launches Q1 2026, targeting over $1 million daily revenue from Ethereum staking operations.

Bitmine (NYSE: BMNR), the world’s largest Ethereum

ETH
$3 117



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treasury holder, has increased its holdings that now amount to 3.45% of Ether’s total supply. In particular, holding 4.168 million ETH, of which 1.256 million are staked to secure the Ethereum network and generate staking rewards for the company.

Bitmine’s treasury holdings update came in a press release dated on Jan. 12, in which its chairman, Thomas “Tom” Lee, urged shareholders to vote favorably to increase BMNR authorized shares, requiring 50.1% of outstanding shares to vote YES.

🧵🪡
BitMine shareholders, please read this thread carefully. It is about the upcoming shareholder vote and why we need every shareholder to participate:

➡️ this company’s charter is unusual
➡️ and needs 50.1% of outstanding shares to vote YES
➡️ to increase authorized shares…

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) January 9, 2026

This vote is crucial for Tom Lee’s plans to raise funds and continue increasing Bitmine’s treasury holdings. As of this writing, total holdings sum up to $14 billion, including the 4.17 million reported ETH at $3,119 per token, 193 BTC, a $23 million stake in Eightco Holdings (NASDAQ: ORBS) (“moonshots”) and total cash of $988 million.

With this treasury size, Bitmine is the world’s second-largest global treasury, only behind Michael Saylor’s Strategy (NASDAQ:MSTR). Strategy has reportedly acquired 13,627 Bitcoin

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for $1.25 billion at $91,519 per bitcoin, as Coinspeaker noted. BMNR is also the 67th most traded stock in the US, trading $1.3 billion per day at a five-day average.

Lee’s ultimate goal as an Ethereum treasury company is to hold a mark of 5% of Ether’s total supply, staking most of it.

Bitmine’s MAVAN to Launch in 2026, Staking ETH

Notably, Bitmine has nearly doubled the amount of its staked Ether, adding 596,864 in the past week, reaching 1,256,083 ETH. “Bitmine has staked more ETH than other entities in the world,” Tom Lee said as Bitmine now stakes circa 30% of its Ether holdings.

Moreover, the company doubled down on its plans to launch the Made in America Validator Network (MAVAN) in Q1 2026—a dedicated staking infrastructure for Bitmine assets. With this enterprise, the plan is to stake most of its ETH, eyeing a daily staking fee revenue greater than $1 million, using the composite Ethereum staking rate (CESR) of 2.81%, administered by Quatrefoil, as a base indicator.

“At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the ETH staking fee is $374 million annual (using 2.81% CESR), or greater than $1 million per day,” stated Tom Lee. “We continue to make progress on our staking solution known as MAVAN. This will be the ‘best-in-class’ solution offering secure staking infrastructure and will be deployed in early calendar 2026,” continued Lee.

Meanwhile, Ethereum creator Vitalik Buterin has commented on the next steps for Ethereum to consolidate beyond the “walkaway test,” cementing its protocol to avoid dependency on constant developer involvement.

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