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Bitmine Immersion Technologies acquired approximately 101,901 ETH during the past week at a reported price of $2,369 per token, for an estimated outlay of $241.4 million. The purchase lifted the company’s total holdings to 5.078 million ETH, marking its largest weekly purchase pace since the week of December 15, 2025, according to statements by Tom Lee.
The firm’s latest transaction represents a continued shift in strategy toward Ethereum accumulation. Its current holdings amount to 4.21% of Ethereum’s total supply. Bitmine’s broader portfolio totals $13.3 billion in crypto assets and cash, including $940 million in cash, 200 bitcoins, and equity stakes the company describes as “moonshots.”
Approximately 3.7 million ETH held by the company—valued at roughly $8.8 billion—are currently staked. Bitmine estimated its annualized staking revenues at close to $264 million. The company also projected that this figure could rise to $363 million if all of its holdings are incorporated into MAVAN, its own validation platform.
Backed by market strategist Tom Lee, Bitmine has described its evolution from a cryptocurrency mining company into a listed Ethereum accumulation vehicle. Lee also characterized ETH as the leading “reserve asset in times of war” following the onset of the conflict with Iran, a view he has repeated in recent public appearances.
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