Bitmine Immersion Technologies (BMNR) announced that it now holds over 4.14 million ether approximately 3.43% of the total supply, as it continues to accumulate tokens in an effort to reach its 5% goal.
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 President Tom Lee, Bitmine added nearly 33,000 ETH to its treasury over the past week. Lee predicted that the price of ether would reach $250,000 if bitcoin eventually reached $1 million.
As of January 4, Bitmine had staked 659,219 ETH, the equivalent of approximately $2.1 billion. The company, which currently collaborates with three staking providers, aims to increase this number with the launch of its in-house validator, known as the Made in America Validator Network (MAVAN). It should go online in early 2026.
If fully staked at current rates, BitMine projects over $1 million per day in staking rewards, considering the current Composite Ether Staking Rate (CESR) of approximately 2.82%.
BMNR shares rose 4.4% on Monday, alongside a rise in the price of ether to $3,171.
