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<h2 id="what-did-bitmine-add-this-week">What Did BitMine Add This Week?</h2> BitMine Immersion, the Ethereum-focused treasury firm chaired by Tom Lee, has raised its Ether holdings to 4,167,768 ETH following its latest weekly purchases. At current prices, the position is valued at roughly $13 billion, making BitMine the largest known Ethereum treasury holder. Since its previous update on Jan. 5, the company acquired 24,266 ETH. BitMine did not disclose its <a href="https://financefeeds.com/ethereum-dencuns-upgrade-fails-to-spark-price-rally-fees-remain-stubborn/" rel="noopener noreferrer nofollow">average purchase price</a>, but based on prevailing market levels, the latest tranche would be worth about $75.4 million. As of Jan. 11, the firm also reported holding 193 bitcoin valued at roughly $17.5 million, a $23 million stake in WLD treasury firm Eightco, and $988 million in cash. Combined, BitMine’s crypto and cash holdings stand near $14 billion. The size of the Ether position is notable not just in absolute terms. BitMine now controls about 3.45% of <a href="https://financefeeds.com/bitmine-amasses-3-million-ether-becoming-largest-eth-treasury-holder/" rel="noopener noreferrer nofollow">Ethereum’s circulating supply</a>, which sits near 120.7 million ETH. That places a meaningful share of liquid supply under the control of a single corporate treasury. 
<h3 id="investor-takeaway">Investor Takeaway</h3>
<div style="background: #f9f9f9; border-left: 4px solid #ff9900; padding: 12px; margin: 16px 0;">
 Corporate treasuries are starting to matter for Ethereum’s supply dynamics. A few large holders can now influence liquidity and staking flows in ways once limited to early networks.
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<h2 id="why-is-bitmine-s-staking-footprint-drawing-attention">Why Is BitMine’s Staking Footprint Drawing Attention?</h2> Beyond outright accumulation, BitMine has rapidly expanded its staking activity. The company’s total staked Ether has climbed to 1,256,083 ETH, an increase of 596,864 ETH in a single week. That jump nearly doubled its staking position and made BitMine a major driver of recent congestion in Ethereum’s validator entry queue. “BitMine has staked more ETH than other entities in the world,” the firm said on Monday. The rise in new validators has coincided with a sharp decline in the exit queue, suggesting that new capital is entering staking faster than existing validators are leaving. For the network, large-scale staking by corporate treasuries cuts both ways. On one hand, it supports network security and reduces circulating supply. On the other, it concentrates validation power among a small number of operators, raising questions around decentralization and governance as Ethereum continues to attract institutional-scale capital. 
<h2 id="how-does-bitmine-compare-with-other-crypto-treasury-firms">How Does BitMine Compare With Other Crypto Treasury Firms?</h2> BitMine now sits well ahead of other Ethereum-focused treasury holders. Data from SER shows Joe Lubin’s SharpLink holding roughly 863,021 ETH, while The Ether Machine controls about 496,712 ETH. Together, those figures still fall far short of BitMine’s position. Across the broader crypto treasury landscape, BitMine ranks as the second-largest public company by crypto holdings, behind <a href="https://financefeeds.com/strategy-cleared-as-investors-withdraw-accounting-and-disclosure-lawsuit/" rel="noopener noreferrer nofollow">Michael Saylor’s Strategy</a>. Strategy recently lifted its bitcoin holdings to 687,410 BTC, worth around $62 billion, after announcing a $1.25 billion purchase. That stash represents more than 3% of bitcoin’s fixed 21 million supply. BitMine’s stated objective goes further. The firm ultimately targets owning 5% of Ethereum’s circulating supply, which at current levels would equal roughly 6.04 million ETH. Reaching that threshold would push its influence over Ethereum liquidity and staking to a level rarely seen outside protocol foundations or early ecosystem players. 
<h3 id="investor-takeaway">Investor Takeaway</h3>
<div style="background: #f9f9f9; border-left: 4px solid #ff9900; padding: 12px; margin: 16px 0;">
 Ethereum treasuries are starting to mirror bitcoin’s corporate accumulation trend, but with an added staking yield component that changes how long-term holders manage supply.
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<h2 id="why-are-some-investors-turning-more-bullish-on-ethereum">Why Are Some Investors Turning More Bullish on Ethereum?</h2> BitMine’s aggressive accumulation comes as some large institutions expect Ethereum to regain relative strength. Standard Chartered’s global head of <a href="https://financefeeds.com/cboe-exchange-files-to-list-bitcoin-and-ether-etf-options/" rel="noopener noreferrer nofollow">digital assets research</a>, Geoffrey Kendrick, said recently that “2026 will be the year of Ethereum,” pointing to improving fundamentals even as weaker bitcoin performance has weighed on the wider market. Kendrick expects Ethereum to outperform bitcoin this year, citing network effects and growing <a href="https://financefeeds.com/blackrock-expands-buidl-fund-to-solana-signaling-major-institutional-adoption/" rel="noopener noreferrer nofollow">adoption of tokenized real-world assets</a>, and set a $7,500 year-end target. Tom Lee echoed that view in BitMine’s latest announcement. “2026 augurs many positive things for crypto with stablecoin adoption and tokenization driving to make blockchain the settlement layer of Wall Street, particularly favoring Ethereum,” he said. Lee described the post–Oct. 10, 2025 leverage reset as a “mini crypto winter,” adding that he expects prices to recover in 2026 with stronger gains into 2027 and 2028. The market reaction, however, has been mixed. BitMine’s shares have fallen 11.5% over the past week, according to pricing data tracked by The Block, even as the company expanded its balance sheet. The stock was marginally higher in pre-market trading on Monday. Whether BitMine’s strategy proves prescient will depend on how Ethereum’s role in staking, stablecoins, and tokenized finance develops over the next cycle. What is already clear is that Ethereum’s supply is increasingly being absorbed by long-term, yield-seeking treasuries rather than short-term traders.

BitMine’s Ethereum Treasury Tops $13B After Fresh Weekly Buys

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