Bitmine's ether stash tops 4.1 million tokens as crypto and cash holdings reach $13.2 billion

Core Insights - Bitmine Immersion Technologies (BMNR) has reported a total of $13.2 billion in combined crypto, cash, and higher-risk investments, making it the largest publicly owned ether treasury globally and second among corporate crypto treasuries [1][2]. Group 1: Holdings and Investments - As of December 28, Bitmine holds 4,110,525 ETH, 192 bitcoin, a $23 million stake in Eightco Holdings, and $1 billion in cash [2]. - The ether position constitutes approximately 3.41% of the circulating supply of around 120.7 million ETH, nearing the company's "alchemy of 5%" target [2]. Group 2: Market Strategy and Revenue Potential - Bitmine is currently the largest "fresh money" buyer of ETH globally, according to the company's chairman, Thomas Lee [2]. - The company has staked 408,627 ETH, valued at about $1.2 billion, and is collaborating with three staking providers to launch its Made in America Validator Network (MAVAN) by early 2026 [3]. - With the current Ethereum staking rate of 2.81%, fully staking the ether holdings could yield approximately $374 million in annual staking revenue [4]. Group 3: Market Conditions - Year-end tax-loss selling is impacting crypto and crypto equity prices, particularly from December 26 to December 30, which the company is considering in its market navigation [3].