Bitmine Adds 44,000 ETH, Begins Staking Ahead of 2026 Validator Plan

What Is Bitmine Doing With Its Ether Treasury?

Bitmine Immersion Technologies has begined staking a portion of its ether holdings, placing more than 400,000 ETH into yield-generating contracts as it builds toward a larger Block confirmer strategy planned for 2026. The move comes as the company continues to accumulate ether at scale, positioning itself as one of the largest concentrated holders of the asset.

In a disclosure released Monday, Bitmine said it added another 44,463 ETH over the past week, lifting its total holdings to more than 4.11 million ETH. That figure represents roughly 3.41% of . The company crossed the 4 million ETH threshold last week and has stated that its longer-term objective is to acquire 5% of the network’s total supply.

At current prices, Bitmine’s ether position alone is valued at just over $12 billion. Including BTC and cash, total crypto and cash holdings stand at $13.2 billion. As of Dec. 28, the balance sheet includes 4,110,525 ETH, 192 BTC, and $1 billion in cash.

Investor Takeaway

Why Is Bitmine purchaseing Ether During Market fragileness?

said the company used year-end market softness to continue adding to its ether position, pointing to tax-loss tradeing as a key driver of short-term pressure. According to Lee, Bitmine was the largest source of “fresh money” purchaseing ether over the past week while other holders sold to realize losses before year-end.

This strategy contrasts with more passive treasury approaches that simply hold without adding during drawdowns. Bitmine’s purchases suggest the firm views late-December tradeing as temporary rather than structural, and that it expects long-term demand for ether to absorb the additional supply.

The timing also reflects confidence in ETH’s role as a yield-bearing network. Unlike BTC, ether can generate native returns through staking, making large-scale holdings more than just a directional price bet. By accumulating during periods of fragileness, Bitmine is positioning itself to benefit from both price recovery and ongoing staking rewards.

How Does Staking Fit Into the MAVAN Plan?

The company confirmed that more than 408,000 ETH is now staked as part of its preparation for the launch of the Made in America Block confirmer Network, or MAVAN, expected in ahead 2026. The initiative is designed to give Bitmine a direct role in validating ETH transactions while keeping operations based in the United States.

Staking ahead of MAVAN serves two purposes. First, it allows Bitmine to begin earning yield immediately rather than leaving all holdings idle. Second, it provides operational experience at scale before the full Block confirmer rollout. Running Block confirmers across hundreds of thousands of ETH requires infrastructure, monitoring, and risk controls that go well beyond retail staking setups.

By the time MAVAN launches, Bitmine aims to have a mature staking operation already in place, reducing execution risk and smoothing the transition from passive holder to active network participant.

Investor Takeaway

Why Are BMNR Shares Lagging Ether?

Despite continued accumulation, Bitmine’s stock has not tracked ether’s recent price behavior. BMNR shares were recently trading near $28.50, down nahead 13% over the past week, while ether hovered around $2,950 over the identical period.

The divergence highlights a familiar tension for crypto-heavy public companies. Equity investors often focus on near-term dilution risk, execution costs, and valuation multiples rather than underlying token holdings. Large crypto treasuries can create volatility in reported results, especially when asset prices move quicker than equity markets can reprice.

There is also a timing gap between strategy and payoff. While staking generates yield, those returns may not immediately translate into earnings metrics that equity investors prioritize. For now, the market appears to be discounting future benefits while reacting to short-term price moves and broader risk sentiment.

What Comes Next for Bitmine?

With more than 3% of ETH’s circulating supply already under its control, Bitmine is approaching a scale where its actions carry network-level implications. Continued accumulation toward the 5% target would place the firm among the most influential single holders of ether globally.

The next milestones will likely center on expanding staking participation and providing more detail on MAVAN’s structure, economics, and regulatory posture. How Bitmine balances liquidity, staking lockups, and markets and for shareholders assessing risk.