BitMine Immersion Technologies, a company listed on the New York Stock Exchange and led by Fundstrat’s Tom Lee, has quietly become one of the biggest holders of Ethereum (ETH) ever reported by a single organization. As of January 26, BitMine owns 4,243,338 ETH, which equals about 3.52% of all Ethereum currently in circulation.

At the time of the announcement, this massive Ethereum stash was valued around $12 billion. That makes BitMine the largest Ethereum holder in the world and the second-largest holder of cryptocurrency overall—just behind Strategy Inc., which holds over 700,000 Bitcoin.

### BitMine Buys More Ethereum as Prices Dip

BitMine has been aggressively adding to its Ethereum reserves over the past six months. According to weekly purchase data, the company has been steadily buying ETH since October 2025. December was especially active, with multiple large purchases.

In just the last week of January, BitMine bought more than 40,000 ETH. The week before that, it added another 35,000 ETH. In total, the company spent $110 million buying Ethereum during a recent price dip.

Even though Ethereum’s price has dropped over the past month—falling by about 8.4% to a low of $2,787—BitMine hasn’t slowed down. Ethereum recently showed some signs of recovery, trading at $2,940.44 with a slight increase over the past hour and day.

### BitMine’s Portfolio Now Worth Nearly $13 Billion

BitMine’s total assets now stand at $12.8 billion. This includes not just Ethereum but also 193 Bitcoin, $682 million in cash, a $200 million stake in Beast Industries, and a smaller investment in Eightco Holdings.

The company’s ultimate goal is to own 5% of all Ethereum in existence—a target it calls the “alchemy of 5%.” To reach that level, BitMine would need to hold about 6 million ETH. At today’s prices, this would require investing several billion dollars more.

### Nearly Half of BitMine’s Ethereum Is Staked

BitMine isn’t just holding Ethereum—it’s also putting it to work. As of January 25, the company had staked 2,009,267 ETH, worth around $5.7 billion. That’s nearly half of its entire Ethereum stash.

By staking its ETH at an average return rate of about 2.81%, BitMine estimates it could earn around $374 million per year—roughly $1 million per day. Right now, BitMine is using outside providers for staking services. But it plans to launch its own network in early 2026 called the Made in America Validator Network (MAVAN).

### A Long-Term Bet on Ethereum and Blockchain Adoption

Chairman Tom Lee sees this as a long-term move tied to growing institutional interest in blockchain technology. After attending the World Economic Forum in Davos, Lee noted that many business and policy leaders are now talking about how traditional finance, crypto, and AI are starting to merge.

He believes Ethereum is playing a key role in this shift—especially through tokenization and other financial infrastructure projects already being built on the network.

In short, BitMine is making a bold bet that Ethereum will be a core part of the future financial system—and it’s backing that belief with billions of dollars.