Bitmine Immersion Technologies (BMNR), a leading Ethereum treasury company, holds a substantial amount of staked Ether (ETH), potentially generating significant annual staking revenue. As of January 25, 2026, Bitmine's total staked ETH stands at 2,009,267, valued at approximately $5.7 billion based on an ETH price of $2,839. This represents nearly half of the company's total ETH holdings.
Bitmine's total ETH holdings have reached 4.243 million, representing 3.52% of the total Ethereum supply. The company's overall crypto, cash, and equity holdings amount to $12.8 billion. These holdings include 193 Bitcoin, $682 million in cash, a $200 million stake in Beast Industries, and a smaller equity position in Eightco Holdings. Bitmine's large ETH position solidifies its status as the world's largest Ethereum treasury and the second-largest global corporate crypto treasury.
The company is actively expanding its staking operations. Using the Composite Ethereum Staking Rate (CESR) of 2.81% administered by Quatrefoil, Bitmine estimates that a fully deployed staking strategy could generate about $374 million in annual fees, exceeding $1 million per day. However, reports also mention a $160 million annual staking revenue, based on different calculations or earlier data. The discrepancy in revenue estimations could be attributed to the scaling of staked ETH and fluctuations in staking rates.
To support its staking activities, Bitmine is developing its own staking infrastructure called the Made in America Validator Network (MAVAN), which is expected to launch in early 2026. MAVAN will provide a secure staking infrastructure and will be deployed in early calendar 2026. Currently, Bitmine collaborates with three staking providers as it transitions towards utilizing MAVAN.
Bitmine has been aggressively accumulating Ethereum under its "Alchemy of 5%" initiative, aiming to control 5% of the total ETH supply. The recent purchase of 40,302 ETH brings the company closer to its target, holding nearly 70% of its goal. This strategy reflects a long-term bet on institutional adoption of blockchain technology.
Bitmine's stock, traded on the NYSE American under the ticker BMNR, has seen increased trading volume, making it one of the most actively traded U.S. equities. This heightened activity underscores growing market interest in Bitmine's ETH accumulation strategy amidst increasing institutional and policy momentum around digital assets. Recently, Young Kim, Bitmine's CFO and COO, was appointed to the company's board of directors, formalizing his expanded governance role. The most recent analyst rating on BMNR stock is a Buy with a $39.00 price target.
Bitmine's strategic focus on Ethereum and its development of the MAVAN platform highlight its commitment to the cryptocurrency market. The potential to generate substantial revenue through ETH staking further positions Bitmine as a key player in the evolving digital asset landscape.
