Bitmine Immersion Technologies now holds 5.67 million ETH after buying another 52,203 ETH for about $92 million. This latest purchase brings the company closer to its goal of owning 5% of Ethereum’s total supply. Chairman Tom Lee said he believes the crypto market is entering a “crypto spring” and expects Bitmine to reach its long-term target later this year.
The company now holds about 4.7% of Ethereum’s circulating supply, making it one of the largest digital asset treasuries worldwide. At current prices, Bitmine’s Ethereum is worth nearly $10 billion. Including Bitcoin, other investments, cash and securities, total assets are about $10.7 billion.
Bitmine’s approach goes beyond just holding ETH. Over 4.7 million ETH, or more than 83% of its holdings, is staked through its MAVAN platform. The company estimates that staking could generate about $223 million in annual revenue, possibly rising to $268 million as operations grow.
Tom Lee said Bitmine is committed to steadily increasing its holdings, even with market ups and downs. While recent weekly purchases are smaller than before, the company believes it is still on track to reach the “Alchemy of 5%” goal.
To help fund its growth, Bitmine recently raised almost $274 million by offering preferred stock on the New York Stock Exchange under the ticker BMNP. These shares pay weekly dividends, and management expects staking income to help cover these payments over time.
In addition to Ethereum, Bitmine’s treasury holds 205 Bitcoin, a large stake in Beast Industries, and a position in Eightco Holdings. The company also has over $600 million in cash and marketable securities, giving it liquidity for future opportunities.
Bitmine was recently included in Fortune’s first Crypto 100 list, showing its growing influence in the digital asset sector. While the company is optimistic about Ethereum and broader crypto adoption, investors are still weighing the risks of large-scale crypto exposure, evolving regulations, and market volatility.
Tom Lee(@fundstrat)’s #Bitmine bought another 52,203 $ETH($92M) last week and now holds 5,672,956 $ETH($10B).
The average cost is ~$3,440.
At current prices, this position is down over $9.5B.https://t.co/xPUhSDsuyJ pic.twitter.com/15Gg6xPujo
— Lookonchain (@lookonchain) June 22, 2026
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