Bitmine is staking almost $4 billion worth of Ethereum, representing nearly one-third of its total Ethereum holdings. The company is backed by high-profile institutional investors including Peter Thiel’s Founders Fund and Cathie Wood’s ARK Invest, and has positioned itself as the largest Ethereum treasury in the world. Tom Lee, the chair, said on Monday that Bitmine will be the largest staking provider in the entire crypto ecosystem and projects annualised revenue of about $374 million, or more than $1 million per day.
Lee’s bullish stance comes as Ethereum trades about 37% below its all-time high reached in August, amid broader market liquidity pressures. Bitmine owns 3.45% of the total Ether supply and is targeting 5%.
Lee also said Bitmine purchased another $76 million worth of Ethereum in the second week of January. He expressed confidence that 2026 could bring favorable conditions for crypto, noting that 2026 augurs many positive things for crypto with stablecoin adoption and tokenisation driving to make blockchain the settlement layer of Wall Street, particularly favoring Ethereum. He also noted that the leverage reset post October 10, 2025 could resemble a mini crypto winter, with prices recovering in 2026 and stronger gains expected in 2027–2028.
To align its equity with rising Ethereum prices, Bitmine has proposed increasing its authorized shares—from 500 million to 50 billion—to enable a future stock split. The proposal prompted a 15% jump in Bitmine’s share price before giving back some of the gains as markets digested the details.
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