BitMine has been buying a lot of Ethereum, adding tens of thousands of ETH in one week as year-end market pressures push prices down.
In a new press statement, BitMine said it bought 44,463 ETH last week. This move positions it as what Fundstrat’s Tom Lee described as the largest source of “fresh money” buying Ethereum globally.
He added that late-December trading is often affected by tax-loss selling (especially from December 26–30), which usually pushes down crypto prices. Meanwhile, BitMine is using this window to build long-term exposure.
Ethereum Holdings Reach 3.41% of Total Supply
As of December 28, BitMine holds 4.11 million ETH, worth approximately $12.1 billion at Coinbase prices. This represents 3.41% of Ethereum’s total circulating supply, moving the firm roughly two-thirds of the way toward its stated goal of owning 5% of all ETH.
In addition to ETH, BitMine’s balance sheet includes 192 BTC, $1 billion in cash, and a $23 million strategic investment in Eightco Holdings. This brings its total cash, crypto, and “moonshot” holdings to $13.2 billion.
Staked ETH Crosses 408,000 as MAVAN Takes Shape
BitMine has already staked 408,627 ETH, worth about $1.2 billion, as it prepares to launch its proprietary staking infrastructure, the Made in America Validator Network (MAVAN), in early 2026.
At current Ethereum staking rates, the company estimates that fully deploying its ETH holdings into staking could generate over $1 million per day in staking rewards at scale. In other words, the move turns ETH accumulation into a recurring income engine.
With its current holdings, BitMine ranks as the largest Ethereum treasury in the world and the second-largest crypto treasury globally. It trails only Strategy (formerly MicroStrategy), which holds over 670,000 BTC.
The company has also emerged as one of the most actively traded stocks in the U.S., averaging $980 million in daily trading volume. This figure places it among the top 50 most traded equities nationwide.
Institutional Backing and January 2026 Shareholder Meeting
BitMine continues to attract support from major institutional investors, including ARK Invest’s Founders Fund, Cathie Wood, Pantera, DCG, Galaxy Digital, and personal backing from Tom Lee himself.
Looking ahead, BitMine will hold its Annual Stockholder Meeting on January 15, 2026, in Las Vegas. Management is urging shareholders to approve key proposals tied to its long-term ETH accumulation strategy, staking expansion, and capital structure.
As year-end volatility plays out, BitMine’s aggressive ETH buying highlights confidence among institutional players that Ethereum’s long-term role in global finance is still being priced far below its potential.
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