BitMine Immersion Technologies owns 5,847,611 ether, representing 4.79% of the total supply of the cryptocurrency. The company reached this level in just fourteen months, compared to six years for MicroStrategy which accumulated 4.19% of bitcoin in circulation. It needs approximately 251,000 additional ethers, worth about $620 million at current prices, to reach its 5% target. Chairman Tom Lee stated the company could achieve this before the end of 2026. BitMine has already staked 5.07 million ethers generating approximately $330 million in annual revenue, and Lee believes ethereum could easily exceed $10,000.
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