Bitmine Immersion Technologies has revealed it holds 4.168 million Ethereum (ETH) tokens, positioning itself as the world's largest ETH treasury. The company's strategy aims to acquire 5% of the total ETH supply by 2026. This announcement coincides with a major staking event where a Bitmine-linked on-chain address staked an additional $519.8 million worth of ETH (154,304 tokens) over a concentrated four-hour period.
The recent staking transaction, reported by analytics platform Onchain Lens, is one of the largest single staking maneuvers witnessed in 2025. It brings the entity's total staked Ethereum to a colossal 1.685 million ETH, valued at approximately $5.65 billion. This single entity now controls a staking position equivalent to roughly 1.4% of all staked ETH on the Beacon Chain, comparable in scale to major pools like Lido DAO and Coinbase.
Chairman Tom Lee is urging stockholders to vote "YES" on Proposal #2 at the company's Annual Meeting on January 15 in Las Vegas. The proposal aims to increase authorized shares to boost investment in their Ethereum portfolio, which could lead to increased ETH per share for investors. The move is seen as a strategic effort to solidify Bitmine's market position and maximize returns from its cryptocurrency treasury.
Analysts point to several strategic rationales behind the massive stake: long-term network alignment with Ethereum's utility and value, gaining voting power influence in future network governance decisions, and productive use of idle treasury assets while maintaining exposure to ETH's price appreciation. The timing is notable as it follows clearer regulatory definitions for staking-as-a-service in major jurisdictions like the United States and European Union.
Market observers note that removing over 150,000 ETH from immediate circulation reduces sell-side pressure and decreases liquid supply, acting as a powerful bullish signal. The development occurs against a backdrop of Bitcoin nearing the $100,000 mark and Ethereum experiencing network developments and growing adoption.
