BitMine Acquires 35,268 ETH to Boost Holdings

TLDR

• BitMine's ETH holdings now total over 4.203 million.
• Company aims for 5% ownership of Ethereum supply.
• Staked ETH increased from 1.26M to 1.83M in one week.

BitMine Immersion Technologies, chaired by Thomas "Tom" Lee, recently acquired 35,268 ETH, bringing its total Ethereum holdings to 4.203 million ETH. This acquisition increases BitMine's share of the ETH supply to 3.48%, with 1,838,003 ETH staked as of January 19, 2026.

The recent purchase is part of BitMine's strategic push to achieve 5% ownership of the Ethereum supply, known as the "alchemy of 5%." The firm's total crypto and cash holdings stand at $14.5 billion. According to BitMine's SEC filing, their acquisitions are released amidst tax-loss selling pressures affecting crypto markets. The company's stockholders recently approved a share increase by an 81% voting margin on January 15, 2026. According to the SEC filing, BitMine's developments are meticulously documented.

Staking and New Validator Network Plans

BitMine deployed 408,627 ETH into staking through various platforms, marking a significant step in their strategy. The Made in America Validator Network (MAVAN) is planned for a Q1 2026 launch. This move aims to enhance efficiency and performance in Ethereum staking.

The company's focus on improving staking infrastructure coincides with an increase in the amount of ETH they have staked. From January 11 to January 19, 2026, the number of ETH staked by BitMine rose from 1,256,083 to 1,838,003. BitMine aims to generate approximately $374 million annually in staking yields.

Influential Figures and Institutional Support

Tom Lee, the Chairman of BitMine and Managing Partner at Fundstrat Global Advisors, known for his Wall Street experience, has spearheaded this strategic focus. His insights, including predictions of Ethereum's market cycles, have been instrumental in guiding BitMine's approach to Ethereum.

Key supporters of BitMine's vision include Cathie Wood of ARK Investment and notable firms such as Founders Fund and Pantera. These backers strengthen BitMine's position as an institutionally-backed Ethereum treasury. Tom Lee’s statements at the January 15, 2026, stockholder meeting echoed a belief in Ethereum's growing recognition in financial markets. Insights from Fundstrat Global Advisors emphasize these advancements.

Ethereum Holdings and Market Impact

BitMine now holds over 4.203 million ETH, with a significant portion actively staked. This acquisition trend follows previous purchases totaling over 4.17 million ETH, including major buys from the last two weeks. Instead of direct trading impact, the continued infrastructure development aligns with broader crypto treasury strategies.

The ETHBTC ratio continues to climb, factoring in decentralized finance's growing influence as noted by Thomas Lee. This emphasizes the use cases being developed on Ethereum's platform, driving organic adoption. In discussions, it’s noted that Ethereum's developments, covered in Lookonchain's recent tweet, highlight ongoing shifts in market dynamics.