While the broader crypto market often catches its breath during the final days of the year, BitMine Immersion Technologies (BMNR) is in a sprint.
In a recent series, the company further staked 118,944 ETH, worth approximately $352.16 million, bringing the total stake to a staggering 461,504 ETH.
With a total stake value now at $1.37 billion, BitMine is aggressively pursuing its “Alchemy of 5%” strategy, a long-term mandate to control a significant portion of the network’s total supply.
The momentum doesn’t stop with the strike contract
Observers on the chain have done the same marked a newly minted wallet receiving 32,938 ETH worth $97.8 million from institutional prime broker FalconX.
Although the wallet has not been officially identified, the signature of the transaction matches BitMine’s recent $130 million buying spree, indicating that the world’s most important Ethereum [ETH] The treasury has not finished accumulating yet.
BitMine’s recent $352 million stake marks a definitive end to the era of speculative ownership.
For institutional giants, the goal in 2025 is no longer just price growth, but also the return on government bonds.
By staking 461,504 ETH, BitMine turns its treasury into a stable earning engine, supporting the network while collecting reliable rewards that help stabilize the balance.
Ethereum: The liquidity king of 2025
BitMine’s aggression was backed by hard data.
According to Artemis from 2025 factsEthereum led the net capital inflows, posting more than $4.2 billion in positive flows.
Competitors such as Hyperliquid [HYPE] and Sonic [S] focused on perpetuals, while Solana [SOL] directed active wallet addresses. Yet capital concentration remained strongest on Ethereum.
While rival networks reported negative net flows, Ethereum’s deep liquidity and mainnet Layer 2 structure stood out. That combination made Ethereum the preferred location for billion-dollar corporate allocations.
Market dynamics and more
While ETH traded about $2,980 and BitMine shares baptized Just up to $27.15, the company’s strategy remained steadfast, mirroring Michael Saylor’s Bitcoin [BTC]-centric playbook, but pivoting that belief to Ethereum.
This coincided with BitMine adding over 44,000 ETH to its balance sheet, increasing its total holdings to 4.11 million ETH and increasing its share of the network from 3.37% to 3.41%.
With a massive $13.2 billion balance sheet, $1 billion in cash reserves, and exposure to risky upside like Eightco Holdings, BitMine isn’t just accumulating; it consolidates influence.
Given the current pace of crossing the 4 million mark in just 5.5 months, BitMine could realistically reach its goal by the end of 2026.
Final thoughts
- With over 4.11 million ETH already under its control, BitMine is building the first enterprise-scale Ethereum treasury in crypto history.
- This trajectory puts BitMine in the same league as Michael Saylor’s Strategy Inc., but this time the battleground is Ethereum, not Bitcoin.