Bitmine has increased its exposure to Ethereum after staking an additional 118,944 ETH, valued at approximately $352 million, according to on-chain data recorded on Dec. 31.
The latest transaction brings the company’s total staked Ethereum holdings to 461,504 ETH, worth roughly $1.37 billion at current market prices. Blockchain data tracked by OnChain Lens also shows a newly created wallet receiving 32,938 ETH, valued near $97.8 million, from trading firm FalconX. On-chain activity suggests the wallet is controlled by Bitmine, indicating continued accumulation rather than portfolio rebalancing.
The firm has remained an aggressive buyer throughout December. Over the past week alone, Bitmine added more than 44,000 ETH, while earlier purchases included multiple large transactions totaling several hundred million dollars. These moves come despite Ethereum trading well below the average entry price of Bitmine’s holdings.
Bitmine Immersion Technologies Inc. (NYSE: BMNR), chaired by Fundstrat’s Tom Lee, shifted its strategy in 2025 from immersion cooling technology to large-scale digital asset accumulation, with Ethereum as its primary focus. The company now controls the largest known corporate Ethereum treasury and ranks second globally among crypto treasuries, behind Strategy’s Bitcoin holdings.
Based on current estimates, Bitmine holds approximately 4.07 million ETH valued at over $12 billion. With an average entry price near $3,960, the firm is carrying an estimated $3.5 billion in unrealized losses. Despite this, management continues to pursue long-term accumulation, targeting ownership of up to 5% of Ethereum’s circulating supply.
Looking ahead, Bitmine plans to launch its Made in America Validator Network (MAVAN) in the first quarter of 2026, operating U.S.-based Ethereum validators. The company is expected to outline further details of its Ethereum treasury strategy at its shareholder meeting scheduled for Jan. 15, 2026, in Las Vegas.
