- BitMine now holds over 4.24 million ETH and controls more than 3% of total Ethereum supply.
- Ethereum staking now drives BitMine treasury income with over 2 million ETH earning steady onchain rewards.
- Public firms continue shifting toward Ethereum treasuries as staking yield reshapes long term balance sheet strategy.
BitMine Immersion Technologies has increased its Ethereum holdings sharply in recent days. Since Jan. 20, the company added 40,302 ETH to its balance. Total Ethereum holdings now stand at 4,243,338 ETH based on company disclosures. At current market prices the Ether position is valued near $12.3 billion. The most recent purchase alone was worth about $117.1 million.
As a result total crypto and cash reserves climbed to $12.8 billion as of Monday. The treasury also includes 193 Bitcoin valued near $17 million. In addition the company holds $682 million in cash. BitMine also reported a $200 million minority stake in Beast Industries. Together these assets place the firm among the largest public crypto treasuries.
Staking Expands Across the Ethereum Treasury
Staking has become a core focus within BitMine’s Ethereum strategy. The company has now staked 2,009,267 ETH across multiple providers. This marked an increase of 171,264 ETH placed into staking during one week. Nearly half of the entire Ethereum treasury now earns onchain rewards. This shift signals a clear emphasis on recurring yield rather than idle holdings.
Based on current benchmarks, staking could generate about $164 million in annual revenue. The estimate uses 2.81% Composite Ethereum Staking Rate. The company has stated that returns could rise further as more Ether enters staking. BitMine also plans to improve operational efficiency over time. It intends to launch US based validator infrastructure in 2026. It recently expanded its Ethereum exposure through another large-scale staking move, reinforcing its long-term balance sheet strategy.
Supply Share Raises Market Significance
BitMine’s Ethereum holdings now equal about 3.52% of the circulating supply. The total circulating supply is estimated at roughly 120.7 million ETH. The company continues targeting ownership of 5% of total supply. That level would translate to about 6.04 million ETH. Achieving this target would further strengthen BitMine’s position within the Ethereum ecosystem.
The firm already leads publicly traded Ethereum treasuries by a wide margin. SharpLink Gaming follows with about 864,840 ETH. The Ether Machine ranks third with roughly 496,712 ETH. Meanwhile Ethereum network data shows rising staking demand. Millions of ETH remain queued to enter staking across the network.
Sector Shifts Toward Ethereum Treasuries
BitMine’s growth reflects a broader shift across public crypto companies. Several firms are moving away from Bitcoin focused strategies. In June Bit Digital announced plans to wind down Bitcoin mining operations. The company redirected capital toward Ether accumulation. It now holds 153,546 ETH and only six Bitcoin.
Other firms are also pursuing yield driven Ethereum models. Ether Machine recently launched a publicly traded vehicle focused on Ethereum returns. Across the sector staking has become a primary driver behind treasury decisions. Institutional interest in Ethereum continues to grow alongside these changes. As a result Ether is increasingly viewed as a long term balance sheet asset rather than a short term trade.
