BitMine Buys 24,266 ETH, Total Holdings Reach 4.17 Million ETH

Highlights:

• BitMine added 24,266 ETH since Jan. 5, holdings now worth $13 billion.
• Staked Ethereum surged to 1,256,083 ETH, nearly doubling BitMine’s staking position.
• Analysts expect Ethereum to outperform Bitcoin in 2026 with adoption and network effects.

Tom Lee-chaired Ethereum treasury firm BitMine Immersion added 24,266 ETH since Jan. 5. The company’s total Ethereum holdings now stand at 4,167,768 ETH, worth around $13 billion at current prices. Total crypto and cash assets reached $14 billion on Monday.

BitMine also holds 193 BTC, worth $17.5 million, and a $23 million stake in WLD treasury firm Eightco. The firm keeps $988 million in cash. Its Ethereum holdings equal about 3.45% of the total circulating supply of 120.7 million ETH. Staked Ethereum jumped to 1,256,083 ETH, up 596,864 ETH in one week. This nearly doubled BitMine’s staking position. “Bitmine has staked more ETH than other entities in the world,” the company said on Monday.

BitMine Outpaces Other Ethereum Holders

Tom’s BitMine is the largest Ethereum treasury holder. Joe Lubin’s SharpLink holds 863,021 ETH, and The Ether Machine has 496,712 ETH, according to SER data. BitMine is the second-largest public crypto treasury overall, behind Michael Saylor’s Strategy, which holds 687,410 BTC, worth $62 billion. Strategy’s holdings equal more than 3% of Bitcoin’s total 21 million supply.

BitMine aims to acquire 5% of the circulating ETH supply. This target is about 6.04 million ETH. The firm is aggressively expanding its Ethereum holdings. BitMine’s stock fell 11.5% over the past week. BMNR rose 0.3% in pre-market trading on Monday, showing some investor confidence despite short-term pressure.

Ethereum Price Poised for Growth in 2026

On Monday, Standard Chartered highlighted BitMine’s buying as a key reason ETH could outperform Bitcoin. Analyst Geoff Kendrick said that continued purchases by BMNR, the largest ETH treasury, give Ethereum an edge despite slower inflows to other digital assets. Kendrick also said that stablecoin adoption and real-world asset tokenization will support ETH and reduce the ETH-BTC ratio. The bank lowered its near-term 2026 price target to $7,500, down from $12,000, but raised long-term targets to $30,000 by 2029 and $40,000 by 2030.

ETH would need to rise about 1,182% to reach Standard Chartered’s $40,000 target. It is nearly unchanged in the last 24 hours, trading at $3,121. The price is still around 30% below its 2025 all-time high of $4,496.0\

Tom Lee agreed that 2026 would bring many positive things for crypto. He said in Monday’s announcement that stablecoin adoption and tokenization would help make blockchain the settlement layer of Wall Street, which would favor Ethereum. He added that they viewed the leverage reset after Oct. 10, 2025, as a “mini crypto winter.” He expected crypto prices to recover in 2026 and predicted even stronger gains in 2027 and 2028. BitMine has contributed to Ethereum’s validator entry queue surge while the exit queue has moved toward zero. This shows the firm’s strong influence on Ethereum staking trends.

BitMine also plans to launch the Made in America Validator Network (MAVAN) in Q1 2026. This network is designed specifically to stake the company’s ETH holdings. The initiative aims to generate more than $1 million in daily staking fees. The estimate is based on the composite Ethereum staking rate (CESR) of 2.81%, which is managed by Quatrefoil.