Bitmine Immersion Technologies (BMNR) has 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 cryptocurrency 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 reach $250,000 if bitcoin eventually reaches $1 million.
As of January 4, Bitmine had staked 659,219 ETH, equivalent to approximately $2.1 billion. The firm, which currently collaborates with three betting providers, aims to expand this number by launching its internal validator, known as Made in America Validator Network (MAVAN). It is planned to come into operation in early 2026.
If fully staking 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 shares rose 4.4% in early trading on Monday along with a rise in the price of ether to $3,171.
