In the world of major crypto holdings, Strategy Inc. dominates Bitcoin [BTC]. Bitmine Immersion Technologies is now taking a similar role with Ethereum [ETH].
Bitmine recently announced a massive $13.2 billion balance sheet. Notably, over the holidays, the company added 44K+ ETH to its holdings.
Before this purchase, Bitmine controlled about 3.37% of the total Ethereum supply. The new addition has now increased its share to 3.41%.
The company’s long‐term goal is to control 5% of all ETH, or roughly 6.03 million tokens. To reach that target, Bitmine still needs to acquire about 1.92 million more ETH.
What stands out is the speed of accumulation. Bitmine crossed the 4 million ETH mark in just 5.5 months. At this pace, the company could realistically achieve its 5% goal by late 2026.
The company currently holds 4.11 million ETH, alongside $1 billion in cash reserves. In addition, it has invested in high‐risk, high‐reward ventures such as Eightco Holdings (ORBS).
Through this strategy, Bitmine is positioning itself as one of the most influential power players in the Ethereum ecosystem.
Remarking on the same, Tom Lee, Chairman of Bitmine, said,
“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.”
The January meeting and roadmap ahead
As Bitmine approaches its 15th January 2026 Annual Stockholder Meeting, the company is shifting from simply collecting Ethereum to becoming a major player in how the network runs.
In a new message to investors, Chairman Tom Lee urged stockholders to vote “yes” on four key proposals. These include increasing the number of authorized shares and approving a performance‐based pay plan.
Together, these measures support Bitmine’s ambitious “Alchemy of 5%” strategy. The plan is not just about holding Ethereum; it’s about leveraging it to generate real power and income.
At the same time, Bitmine is preparing to launch MAVAN, the Made in America Validator Network, a large‐scale staking system scheduled for 2026.
Currently, the company has 408,627 ETH (worth $1.2 billion) staked with three providers. Yet this represents only a fraction of its potential. With a total of 4.11 million ETH, Tom Lee projects that MAVAN could eventually earn more than $374 million annually in staking rewards. That equates to roughly $1 million every single day.
If successful, this move would position Bitmine as one of the most powerful Ethereum treasuries in the world, second only to Strategy Inc. (MSTR) in global crypto treasury rankings.
Ultimately, the fate of the “Alchemy of 5%” strategy, whether a major success or a risky overreach, will hinge on the votes cast in Las Vegas next month.
Final Thoughts
- Owning over 4 million ETH gives Bitmine leverage that no other corporate buyer has.
- The MAVAN rollout is the true inflection point, determining whether Bitmine can convert a massive asset position into sustainable, long-duration yield.
