Key facts
- Bitmine Immersion Technologies purchased 17,362 ETH worth $47 million.
- The company now holds 6,001,302 ETH, valued at $16.2 billion.
- Bitmine's ETH holdings represent 4.9% of the circulating supply.
- More than five million ETH are staked, generating a 2.62% annualized yield.
- Bitmine has been buying ETH weekly since June 30, 2025.
Bitmine Immersion Technologies, a treasury company led by Tom Lee, has continued its strategy of acquiring Ethereum, purchasing an additional 17,362 ETH worth approximately $47 million in the past week. This latest acquisition brings the company's total holdings to 6,001,302 ETH, valued at about $16.2 billion. This amount represents 4.9% of the circulating Ethereum supply, bringing Bitmine closer to its target of holding 5% of the total supply, a goal it has been pursuing since June 30, 2025. The company has maintained a consistent weekly purchasing strategy since that date. Of its total ETH holdings, over five million tokens are staked, generating a 7-day annualized yield of 2.62%. Lee projects annual staking revenue to be around $358 million, potentially rising to $424 million if all holdings are staked. Bitmine claims to have staked more ETH than any other entity globally. The company also holds 213 BTC, $672 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco. Lee views the current market as turning, with a crypto bull market beginning in late June, and anticipates institutions increasing their crypto exposure in the final months of 2026.