Bitmine adds nearly 33,000 ETH in a week, pushing holdings to over 4.1 million ether

Bitmine Immersion Technologies announced on Monday that it added 32,977 ETH in the previous week. The purchase brings the total crypto and cash holdings of the digital asset treasury company to $14.2 billion.

On-chan data revealed that Bitmine Immersion Technologies now holds 4.1435 million ETH in its balance sheet. The company’s ETH portfolio accounts for about 3.43% of the total Ethereum supply of 120.7 million ETH. The firm also holds 192 BTC and $915 million in cash.

Bitmine’s Chair seems excited about Ethereum’s prospects in 2026

Bitmine has staked around 659.219 ETH, worth around $2.1 billion at $3,196 per ETH. The firm has also reported a surge of 250,592 ETH staked over the past week. The company currently has 3 staking providers ahead of the unveiling of its commercial MAVAN (Made in America Validator Network) in 2026. 

Thomas Lee, Bitmine’s Chairman, revealed that the MAVAN stakes the firm’s ETH holdings at an annual ETH staking fee of $374 million (using 2.81% CESR). He also revealed that the MAVAN staking infrastructure will be deployed in 2026 and will become the best staking solution.

Fundstrat’s Co-Founder and CIO acknowledged that the firm is excited about the prospects for Ethereum this year. He pointed to the flurry of tailwinds surrounding the market, including support for crypto from the U.S. government and Wall Street’s acceptance of stablecoins and tokenization.

Lee added that there’s a surge in authentication and proof of provenance in the AI space. He also noted that there’s an increase in crypto adoption among younger generations, which he said adds positive sentiment in the markets. 

Lee released a special message on Friday calling for Bitmine stockholders to support an amendment to boost authorized shares ahead of the firm’s upcoming annual stockholder meeting on January 15. He said the firm needs the increase in authorized shares for Bitmine to issue shares for capital market activities. He also added that the initiative would accommodate future share splits and enable the firm to consider selective acquisitions.

Lee plans to boost Bitmine’s authorized shares

Lee maintained that the firm is mainly focused on creating shareholder value. He said the initiative can only be achieved by accretively acquiring ETH per share, optimizing yield and income on its digital asset balance sheet, and investing its holdings in moonshots. The entrepreneur also believes in leveraging Bitmine’s strong community and market positions to generate additional returns.

Bitmine currently ranks as the top Ethereum treasury company, followed by SharpLink with a total of 859,853 ETH. The Ether Machine, Bit Digital, and Coinbase Global follow with 496,712 ETH, 153,546 ETH, and 148,715 ETH, respectively. Bitmine is also the second-largest global treasury firm, following Strategy, with around 672,497 BTC worth more than $61 billion.

Fundstrat data revealed that Bitmine’s stock is one of the most traded in the U.S., with an average daily trading volume of $980 million. The firm’s stock is also ranked 44th among the 5,704 U.S.-listed stocks, behind IBM and ahead of Home Depot.

Bitmine’s Annual Meeting will be held at the Wynn Las Vegas, 3131 Las Vegas Blvd S, Las Vegas, Nevada 89109. The firm is also encouraging stakeholders to participate by voting and attending the in-person meeting. 

Bitmine’s focus for its Annual Meeting is to elect 8 directors for 2026 and approve the charter amendment to increase the number of authorized shares of common stock. The firm seeks to approve its 2025 Omnibus Incentive Plan, as well as approve the performance-based compensation arrangement for Lee.

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