Bitmine holds 4.14M ETH and targets staking revenue as Strategy posts $17.44B Q4 loss

Beincrypto reported Bitmine Immersion Technologies said its Ethereum holdings have reached 4.14 million ETH, valued at about $13.2 billion and representing 3.43% of the total supply, while Strategy Inc. disclosed a $17.44 billion unrealized loss in the fourth quarter.

Bitmine said 779,000 ETH are already generating staking yield, and chairman Tom Lee said the company acquired 32,977 ETH in the final week of 2025 and remains the largest “fresh money” buyer of Ethereum globally. Onchain Lens data showed Bitmine staked an additional 186,336 ETH, bringing total staked holdings to 779,488 ETH (valued at $2.52 billion). The firm aims for 5% of the total supply, plans to launch its Made in America Validator Network in Q1 2026, and projects $374 million in annual staking revenue.

Strategy, led by Michael Saylor, has seen its stock fall 48% in 2025 and nearly 70% from the November 2024 peak; its mNAV has fallen to just above 1. The company holds 673,783 Bitcoin (about $63 billion) and established a $2.25 billion cash reserve in December but generates no yield from those holdings. Both companies remain exposed to crypto volatility, and their differing models—yield-generating staking versus pure price appreciation—are presented as the key contrast moving forward.

Key Topics

Crypto, Bitmine Immersion Technologies, Strategy Inc, Ethereum, Bitcoin, Tom Lee