Bitmine Immersion Technologies purchased 28,086 Ethereum tokens last week for approximately $70 million, bringing its total holdings to 5.93 million ETH. The company values its combined assets at $15.7 billion, with $14.8 billion in Ethereum alone. It has staked roughly 85% of its tokens, representing 5.1 million ETH, projected to generate $330 million in annual staking revenue. Bitmine now holds 4.9% of Ethereum’s total supply, approaching its 5% target. Chairman Tom Lee stated that the company has been buying ETH every week since launching its treasury strategy in June 2025.
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