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BitMine Nears 5% ETH Goal: A Crypto Giant in the Making
17 Dec
Summary
- BitMine now holds over 3.2% of total Ethereum supply.
- Company's total crypto holdings, cash, and investments reach $13.3 billion.
- A staking initiative, MAVAN, is planned for early 2026.
BitMine Immersion Technologies has announced it now possesses more than 3.2% of the total Ethereum supply, nearing its ambitious target of acquiring 5% of all ETH in circulation. As of December 14, their holdings exceeded 3.96 million ETH, with over 102,000 tokens added in the past week alone, representing a substantial multibillion-dollar position.
The company's comprehensive financial standing reveals total combined holdings of crypto, cash reserves, and strategic investments valued at approximately $13.3 billion. This includes 193 bitcoin, $1.0 billion in cash, and a $38 million stake in Eightco Holdings, reflecting a dual strategy of maintaining liquidity while securing long-term exposure to digital assets.
Further plans include the development of the Made in America Validator Network (MAVAN), an institutional-grade staking solution set to launch in early 2026 to generate yield on their Ethereum. BitMine will also host its annual shareholders meeting on January 15, 2026, at Wynn Las Vegas, providing updates on its treasury strategy and staking progress.
