Bitmine Holdings Swell to $13.2 Billion, Eyes Dominant 5% Stake in Ethereum

LAS VEGAS, NV – December 29, 2025 – Bitmine Immersion Technologies, Inc. (NYSE AMERICAN: BMNR) has solidified its position as a dominant force in the cryptocurrency landscape, announcing its total crypto, cash, and 'moonshot' investment holdings have reached an impressive $13.2 billion. The company, which focuses on the long-term accumulation of digital assets, revealed it now holds 4.11 million Ethereum (ETH) tokens, inching closer to its ambitious strategic goal of controlling 5% of the entire ETH supply.

In a market update that underscores its aggressive acquisition strategy, Bitmine confirmed its assets as of December 28 include its massive ETH treasury, valued at over $12.1 billion, alongside 192 Bitcoin (BTC), $1.0 billion in cash reserves, and a $23 million stake in Eightco Holdings (NASDAQ: ORBS), which it categorizes as a 'moonshot' investment. This portfolio makes Bitmine the largest corporate holder of ETH in the world and the second-largest public crypto treasury globally, trailing only the Bitcoin-focused Strategy Inc. (MSTR).

The 'Alchemy of 5%': An Aggressive ETH Accumulation Strategy

Bitmine's core mission, dubbed the 'Alchemy of 5%,' is a strategic plan to acquire 5% of the total circulating supply of Ethereum. With its current holdings of 4,110,525 ETH, the company now owns approximately 3.41% of the 120.7 million ETH supply, placing it more than two-thirds of the way toward its target. The company's pace of acquisition remains relentless, even during traditionally quiet market periods.

"Market activity tends to slow as we enter the final holiday weeks of a calendar year. Bitmine added 44,463 ETH in the past week, as we continue to be the largest 'fresh money' buyer of ETH in the World," said Thomas "Tom" Lee of Fundstrat, who serves as Chairman of Bitmine. He noted the company is strategically navigating market conditions, stating, "Year-end tax-loss related selling is pushing down crypto and crypto equity prices and this effect tends to be the greatest from 12/26 to 12/30, so we are navigating markets with this in mind."

This aggressive strategy is backed by a formidable roster of institutional investors. Premier firms including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital have thrown their weight behind Bitmine, supporting its singular focus on creating stockholder value through the accretive acquisition of ETH.

From Holdings to Revenue: The Future of Staking

Beyond simple accumulation, Bitmine is actively developing revenue streams from its vast digital asset treasury. The company is currently staking a portion of its holdings, with 408,627 ETH—valued at approximately $1.2 billion—already committed to staking protocols and generating yield. This represents just a fraction of its total ETH, but it signals a significant future income source.

According to Chairman Tom Lee, the potential revenue is substantial. "At scale (when Bitmine's ETH is fully staked by MAVAN and its staking partners), the ETH staking fee is $374 million annual (using 2.81% CESR), or greater than $1 million per day," he stated. CESR, the composite Ethereum staking rate, provides a benchmark for the potential returns.

To facilitate this, Bitmine is developing its own proprietary staking solution, the "Made in America VAlidator Network" (MAVAN). Slated for a commercial launch in the first quarter of 2026, MAVAN is being engineered as a 'best-in-class' solution offering secure, US-based staking infrastructure. "We continue to make progress on our staking solution... This will be the 'best-in-class' solution offering secure staking infrastructure and will be deployed in early calendar 2026," Lee continued.

A Wall Street Powerhouse

Bitmine's influence extends far beyond the crypto-native world. The company's stock, BMNR, has become one of the most liquid and widely traded equities in the United States. According to research from Fundstrat, BMNR boasts an average daily trading volume of $980 million over a recent five-day period. This remarkable liquidity places it as the 47th most traded stock in the U.S., ranking just behind Salesforce.com and ahead of industrial giant General Electric.

This high trading volume demonstrates significant investor interest and provides the company with flexible access to capital markets, a key component of its strategy to fund further ETH purchases. The company's leadership in raising crypto net asset value (NAV) per share, combined with the stock's high liquidity, has made it a standout performer among its crypto treasury peers.

A Critical Shareholder Vote in Las Vegas

As Bitmine pushes forward, it is calling on its stockholders for support at its upcoming Annual Stockholder Meeting on January 15, 2026, at the Wynn Las Vegas. In a special Chairman's message, Tom Lee emphasized the importance of shareholder participation in approving four key proposals crucial to the company's strategic plan.

"Our company benefits from the strong engagement and support of our stockholders and these 4 key proposals need your crucial 'yes' vote to enable us to achieve our 'alchemy of 5%' strategic plan," Lee urged.

The proposals on the agenda are:
1. The election of eight directors for the next year.
2. An amendment to increase the number of authorized shares of common stock, a critical measure to allow for future capital raises to fund ETH acquisitions.
3. Approval of the 2025 Omnibus Incentive Plan.
4. A non-binding advisory vote to approve a special, performance-based compensation arrangement for the executive chairman.

Stockholders can vote by mail, telephone, or internet before the January 14 deadline, or in person at the meeting. The company has encouraged in-person attendance and will also livestream the event on its official X account. Lee framed the current regulatory environment, including the GENIUS Act and the SEC's Project Crypto, as a pivotal moment for finance, comparing its transformative potential to the 1971 decision to end the U.S. dollar's convertibility to gold, an event that catalyzed the modernization of Wall Street.