Bitmine Acquires 35,268 Ethereum to Boost Holdings

TLDR

• Bitmine now holds 4.203 million ETH, 3.48% of total supply.
• Staked ETH reached a record 1,838,003 tokens in one week.
• Company aims for 5% ownership of total Ethereum supply.

Bitmine Immersion Technologies, chaired by Thomas “Tom” Lee, has acquired 35,268 Ethereum (ETH) as of January 19, 2026. This acquisition increased the company’s total ETH holdings to 4.203 million tokens, equivalent to 3.48% of the total ETH supply. Simultaneously, the company’s staked ETH reached a historic high of 1,838,003 tokens. This strategic move is part of Bitmine’s goal to control 5% of the total Ethereum supply. The development follows stockholder approval for various proposals, including a plan to increase authorized shares at the annual shareholder meeting held on January 15, 2026.

The announcement also highlighted Bitmine’s substantial crypto and cash reserves, valued at $14.5 billion. Institutional support comes from key investors, including ARK’s Cathie Wood and Peter Thiel’s Founders Fund. The company has ambitious plans to launch the Made-in-America Validator Network (MAVAN) for staking in the first quarter of 2026.

Lee’s Market Perspective and Acquisition Details

Bitmine’s chairman, Tom Lee, emphasized the upward trend in Ethereum’s price ratio to Bitcoin, known as ETHBTC, which has been climbing since mid-October. According to Lee, this trend reflects investor recognition of tokenization and other applications being developed on Ethereum. These insights were shared in Bitmine’s January Chairman’s message and during a presentation at the Wynn Encore Las Vegas on January 15, 2026.

The company’s latest SEC filing reveals that their previously staked ETH stood at 1,256,083 tokens as of January 11, 2026. The rise to 1,838,003 in staked tokens within a week marks a significant increase in their staked holdings. This strategic accumulation aligns with Bitmine’s ongoing acquisition strategy, which previously saw purchases totaling $88 million at an approximate price of $3,200 per ETH.

Investment Strategies and Staking Infrastructure

Bitmine’s recent activities include a $200 million investment in Beast Industries, backed by their listed institutional supporters. This investment aligns with their strategy to leverage staking and decentralized finance (DeFi) to generate revenue, which is projected to reach $374 million annually as the largest staking provider. No specific grants have been outlined, but the company’s strategy continues to focus on increasing their ETH holdings toward the 5% ownership goal.

Additionally, Bitmine plans to enhance Ethereum staking through their MAVAN infrastructure. This initiative aims to solidify their position as a leader in Ethereum treasury holdings and staking activities. As of now, the focus remains primarily on Ethereum, with no direct impacts noted on Bitcoin or other altcoins. The ETHBTC ratio’s ongoing climb further emphasizes Ethereum’s position in the market.

Market Dynamics: Institutional Backing and On-Chain Data

Institutional support for Bitmine is evident, with significant backing from prominent figures such as Cathie Wood and Peter Thiel. Although no new statements have been issued by these supporters regarding the latest acquisition, their involvement suggests confidence in Bitmine’s strategy. The company’s recent purchases—and their focus on a 5% ETH supply target—reinforce its standing as a major player in the Ethereum market.

The SEC filing provides further insights into Bitmine’s strategic moves. On-chain data reveals that the company’s staked ETH has surged to an all-time high of 1,838,003 tokens, accounting for 43.7% of its total holdings. Recent purchases include a 35,268 ETH acquisition valued at approximately $113 million at $3,200 per ETH. This adds to their ongoing objective of increasing their ETH supply, with no specific regulatory updates from the SEC or other entities.