Noble Capital Repeats Outperform on Bit Digital After December ETH Treasury and Staking Growth
Noble Capital Markets reiterated an ‘Outperform’ rating on Bit Digital after its December Ethereum treasury report detailed continued growth in ETH holdings and staking rewards accumulation. The analysts highlighted enhanced asset accumulation metrics and robust staking activity as key drivers supporting the firm’s strategic positioning.
1. Bitmine Advances Toward 5% of ETH Supply
Bitmine Immersion Technologies today reported ownership of 3.43% of the total Ethereum token supply, marking roughly two-thirds progress toward its stated goal of accumulating 5%. The company’s Ethereum treasury has grown by more than 1.0% of supply since mid-2025, driven by a combination of direct ETH purchases and staking rewards. Institutional backers including ARK Invest, Founders Fund, Pantera and Galaxy Digital have reaffirmed support for Bitmine’s ‘Alchemy of 5%’ strategy, which aims to secure significant influence over network economics. Bitmine plans to deploy additional capital across the next quarter to accelerate staking operations, targeting an incremental 0.4% of supply by the end of Q2 2026. Investors will have an opportunity to engage with management and vote on strategic proposals—such as increasing authorized shares to fund further Ethereum accumulation—at the company’s Annual Stockholder Meeting on January 15, 2026, at the Wynn Las Vegas.