BitMine Immersion Technologies (NYSE: BMNR) announced that its Ethereum (ETH) holdings have climbed to approximately 3.97 million ETH — equal to more than 3.2 % of the total ETH supply. The company’s combined crypto, cash, and investment assets now total about $13.3 billion, underscoring BitMine’s strategy of aggressive asset accumulation and positioning it as the world’s largest corporate ETH treasury.
Massive ETH Treasury and Overall Holdings
According to a press release from BitMine:
- The firm holds 3,967,210 ETH, valued at roughly $3,074 per ETH as of Dec. 14, 2025.
- BitMine’s total portfolio includes 193 Bitcoin (BTC), a ~$38 million stake in research and technology company Eightco Holdings (NASDAQ: ORBS) classified as “moonshots,” and approximately $1 billion in cash.
- Altogether, the company’s crypto + cash + investments total about $13.3 billion.
These holdings position BitMine ahead of nearly all other corporate crypto treasuries in Ethereum exposure, and second globally in corporate digital-asset holdings behind major Bitcoin-focused treasury peers.
Strategic Accumulation and “Alchemy of 5 %” Goal
BitMine’s chairman, Thomas “Tom” Lee, highlighted the firm’s goal of accruing the equivalent of 5 % of the total ETH supply, a target the company describes as its “alchemy.” The current 3.97 million ETH represents roughly two-thirds of that ambition. BitMine has reportedly continued accumulating ETH, adding over 100,000 ETH in the week leading up to Dec. 14.
Lee noted that the stabilisation of crypto prices following market volatility earlier in October 2025 has aided the company’s long-term accumulation strategy, reinforcing its conviction in Ethereum’s future and broader adoption.
What This Means for ETH and the Crypto Treasury Landscape
BitMine’s large ETH position reinforces its role as a leading institutional participant within digital-asset markets. With over 3.2 % of the circulating supply under its control, the company’s accumulation strategy may have implications for liquidity dynamics and corporate treasury models across the crypto ecosystem.
Industry analysts note that concentrated institutional holdings, while not directly controlling network consensus, can influence market sentiment and secondary market liquidity — especially when such treasuries are paired with broader corporate strategies like staking infrastructure development or validator network deployment.
Looking Ahead: Staking and Annual Meeting
BitMine also revealed plans to launch its Made-in-America Validator Network (MAVAN) staking infrastructure in early 2026, aiming to generate yield and further scale its Ethereum exposure through institutional-grade staking operations.
Additionally, the company scheduled its annual shareholder meeting for January 15, 2026 at the Wynn Las Vegas, where leadership will likely discuss future growth strategies and continued asset accumulation goals.
Key Takeaways
- ETH holdings: ~3.97 million (≈ 3.2 % of total supply)
- Total assets: ~$13.3 billion (crypto + cash + investments)
- Cash on hand: ~$1 billion
- BTC holdings: 193 BTC
- Strategic goal: Pursue 5 % ETH supply target
- Upcoming initiatives: MAVAN staking network deployment and 2026 annual shareholder meeting
Bottom line: BitMine Immersion’s latest treasury disclosure shows a rapidly expanding stake in Ethereum and a substantial total asset base that places it among the most significant corporate players in crypto. Its ongoing accumulation strategy and forthcoming staking infrastructure highlight the company’s long-term conviction in digital assets, particularly Ethereum.
