Bitmine Immersion Technologies is making major moves in the Ethereum space. Last week alone, the company added 32,977 ETH to its holdings, pushing its total stash to an impressive 4.1435 million ETH. That means Bitmine now holds about 3.43% of all Ethereum in circulation. Alongside this, the company also owns 192 Bitcoin and has $915 million in cash reserves, bringing its total digital and fiat assets to $14.2 billion.

The company is not just buying ETH—it’s putting it to work. Bitmine staked 250,592 ETH in the past week, bringing its total staked ETH to 659,219, worth about $2.1 billion at current prices. This shows that Bitmine is not only holding Ethereum but also earning income through staking rewards.

Bitmine is planning to launch its own staking network called MAVAN (Made in America Validator Network) by 2026. This system will manage all of the company’s Ethereum staking activities and is expected to bring in $374 million per year in staking revenue. Bitmine uses a metric called CESR (Current Effective Staking Rate), which it estimates at 2.81%, to calculate potential income from staking.

Chairman Thomas Lee emphasized that Bitmine will continue aggressively acquiring Ethereum. The company wants to stay ahead of competitors like SharpLink, The Ether Machine, Bit Digital, and Coinbase, all of which hold significantly less ETH.

To support future growth, Bitmine is asking shareholders to vote on increasing the number of authorized shares. This would give the company more flexibility for future moves like stock splits or acquisitions. The vote will happen during the Annual Meeting on January 15 at the Wynn Las Vegas. The agenda includes electing eight board members and approving a new incentive plan for 2025. There will also be a vote on performance-based compensation for Lee.

Bitmine’s stock is getting a lot of attention on Wall Street. It has an average daily trading volume of $980 million, placing it among the top 50 most-traded U.S. stocks—right between IBM and Home Depot. Both institutional and retail investors are showing strong interest.

As Ethereum becomes more popular—especially among younger generations and in the growing AI industry—Bitmine sees big opportunities ahead. The company plans to continue expanding its ETH holdings and improving its staking income, all while staying focused on increasing value for shareholders.

In short, Bitmine is betting big on Ethereum, and so far, it’s paying off.