BitMine Ethereum Holdings Reach 3.86 million ETH Worth $12 Billion

• BitMine’s Ethereum holdings reach 3.86 million ETH, Worth $12 billion, edging closer to 5% of the ETH supply.

• BitMine also holds 193 Bitcoin, $1 billion in cash, and a $36 million moonshot stake in Eightco Holding.

BitMine has intensified its pursuit of becoming the world’s dominant Ethereum treasury, now owning more than 3.2% of the entire ETH supply as it moves toward its long-stated milestone, known internally as the Alchemy of Five Percent.

With a combined portfolio of crypto, cash, and high-conviction investments valued at $13.2 billion, the company continues to solidify its position at the center of institutional Ethereum accumulation.

BitMine Buys More Than 138,000 ETH in One Week as Confidence in 2026 Grows

As of December 7, BitMine holds 3,864,951 ETH, valued at more than $12 billion, alongside 193 Bitcoin, $1 billion in cash, and a $36 million moonshot stake in Eightco Holdings.

The firm acquired 138,452 ETH in just one week, a dramatic increase from the 54,000 tokens purchased in mid-November. Chairman Tom Lee says the accelerated pace reflects rising conviction that Ethereum will strengthen in the coming months.

Lee highlighted several catalysts, including the Fusaka upgrade, which activated on December 3, introducing improvements in scalability, security, and overall usability.

He also pointed to the Federal Reserve’s December policy pivot, including the expected end of quantitative tightening and a potential interest rate cut, and noted that markets have now moved more than eight weeks beyond the October 10 liquidation shock, making room for crypto to trade again on forward-looking fundamentals.

Chairman’s Message Predicts a Powerful Crypto Cycle in 2026

In the company’s December letter titled The Crypto Supercycle is Intact, Lee argued that 2026 could usher in one of the strongest demand periods in crypto’s history.

He noted that adoption rates remain far below their long-term potential and that the coming wave of Wall Street tokenization will reshape how financial assets are issued, traded, and settled.

According to Lee, the transformation underway today is comparable to the United States’ decision in 1971 to end the gold standard. This event modernized Wall Street and laid the foundation for decades of financial innovation.

BitMine plans to host its annual shareholder meeting at the Wynn Las Vegas on January 15, where leadership will discuss the company’s long-term roadmap and its goal of acquiring five percent of the circulating ETH supply.

The World’s Largest Ethereum Treasury Strengthens Strategic Position

BitMine remains the number one Ethereum treasury globally and ranks second in crypto behind Strategy Inc., which holds 650,000 Bitcoin. The company is also advancing its Made in America Validator Network, an institutional-grade staking infrastructure set to launch in early 2026 and designed to become a best-in-class solution for large-scale ETH staking.

Another factor supporting BitMine’s rise is market liquidity. The company’s stock, BMNR, is now the thirty-seventh most-traded equity in the United States, with an average of $1.8 billion traded daily.

This places it ahead of Goldman Sachs and just behind CrowdStrike, making BitMine one of the most liquid crypto-related equities in the world.

Its investor base includes prominent institutions and individuals such as Cathie Wood, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital, and Thomas Lee.

A Company Positioned for the Next Era of Crypto Finance

With rapid ETH accumulation, a growing cash position, and strategic institutional backing, BitMine is preparing aggressively for what it believes will be a defining period in crypto adoption.

The company sees tokenization, regulatory clarity, and economic tailwinds converging in 2026, setting the stage for broader institutional participation and a stronger Ethereum ecosystem.