Can Bitmine's Ethereum Staking Push Help Achieve 5% Supply Target?

Bitmine, under the stewardship of Tom Lee, continues its aggressive pivot toward Ethereum treasury expansion. January 10 marked another significant milestone when the firm deployed 86,400 ETH—approximately $266.3 million—into staking infrastructure, elevating its total staked position to 1,080,512 tokens valued near $3.33 billion.

The Scale of Bitmine’s Ethereum Consolidation

The numbers paint a striking picture of accumulation velocity. Since Lee took the helm as Bitmine chairman in June 2025, the company has transformed from a mining operation into what may be the largest institutional ETH holder globally. The firm now controls over 4.1 million Ethereum, representing roughly 3.43% of total ETH supply.

This holdings surge accelerated dramatically through late 2025 and into early 2026. By mid-August 2025, Bitmine had accumulated 1,150,263 ETH valued at approximately $4.9 billion. By December 8, holdings reached 3.86 million tokens. The acquisition pace intensified further, with the company adding 98,852 ETH in a single week at an average price of $2,991 per token. Current holdings now exceed 4.143 million ETH as of early January 2026.

Staking Strategy Enters New Phase

The company’s shift from pure accumulation to yield generation began December 26, 2025, when Bitmine deployed $219 million into staking operations. The pace proved explosive—within two days through December 28, the firm staked 342,560 ETH worth approximately $1 billion.

By January 4, the staked position had grown to 659,219 ETH ($2.1 billion), followed by an additional $1.46 billion deployed on January 6. January 8 brought 99,800 ETH ($344.4 million) into staking, reaching 908,192 ETH total. The January 10 deployment of 86,400 ETH represented the latest increment in a pattern that saw over $1 billion deployed into staking during January’s first ten days alone.

Yield Implications and the Path to 5% Ownership

With approximately one-quarter of Bitmine’s holdings now staked, the firm benefits from current yields hovering near 3.12% annually. The 1.08 million staked ETH could theoretically generate around 33,700 ETH per year at those rates, providing substantial yield-on-cost for an institution focused on long-term strategic positioning.

Lee has publicly stated that Bitmine maintains its position as the largest “fresh money” buyer of Ethereum globally. The stated objective remains ambitious: acquiring 5% of all Ethereum’s circulating supply. At current prices and holdings levels, this target represents a significant but achievable expansion of existing positions through continued deployment discipline.

The staking acceleration demonstrates confidence in Ethereum’s long-term value proposition while simultaneously generating financial returns that offset holding costs—a dual-benefit strategy that distinguishes Bitmine’s approach from passive accumulation models employed by other large institutional holders.