Bitmine Immersion Technologies acquired 12,532 ETH over the past week, worth approximately $31.9 million at the $2,544 price the company used to value its holdings. The firm now holds 6,028,946 ETH, representing 4.9% of the total 122.1 million Ethereum token supply, leaving it just 100,000 ETH short of its 5% target. Chairman Tom Lee said the company will stop buying once the 5% threshold is reached, calling it the Alchemy of 5% . Bitmine has staked 5,067,309 ETH, generating approximately $336 million in annualized staking revenue. Lee predicted the biggest crypto bull market ever, driven by tokenization, generational wealth transfer, and supply absorbed by digital asset treasury firms.
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