Bitmine Immersion Technologies (BMNR) has announced that it now holds more than 4.14 million ether 3.43% of the total supply as it continues to accumulate tokens in an effort to reach its 5% target.
The company’s crypto and cash holdings now total $14.2 billion, including $915 million in cash, 192 BTC and a $25 million stake in Eightco Holdings (ORBS), according to a press release.
Led by Chairman Tom Lee, Bitmine added nearly 33,000 ETH to its treasury over the past week. Lee has predicted that the price of ether will go as high as $250,000 if bitcoin eventually reaches $1 million.
As of January 4th, Bitmine had staked 659,219 ETH, worth approximately $2.1 billion. The firm, which currently partners with three staking providers, aims to expand that number through the launch of its internal validator, known as the Made in America Validator Network (MAVAN). It is set to go live in early 2026.
If fully staked at current rates, BitMine projects over $1 million per day in staking rewards, given the current Composite Ether Staking Rate (CESR) of around 2.82%.
BMNR’s shares are up 4.4% in early action Monday, along with a rise in the price of ether to $3,171.
