BitMine Immersion Technologies added 42,197 ETH last week, worth roughly $73 million, lifting its holdings to 5,742,237 ETH — about 4.8% of Ethereum’s circulating supply. The purchase keeps the Tom Lee-chaired treasury company on pace toward its goal of controlling 5% of the token’s supply.
BitMine Immersion Technologies (NYSE: BMNR), the Ethereum treasury company chaired by Fundstrat’s Tom Lee, bought 42,197 ETH worth roughly $73 million over the past week, according to the company’s own holdings update posted Monday. The purchase lifted its total to 5,742,237 ETH, about 4.8% of Ethereum’s circulating supply.
The company put its total crypto and other holdings at $11.1 billion, including the ETH position valued at $1,800 per coin, 206 BTC, a $180 million stake in Beast Industries and a $71 million stake in Eightco Holdings. It also holds $527 million in cash and marketable securities.
Staking position held flat
BitMine’s staked ETH held at 4,879,157, unchanged from the prior week, according to a tracker citing the company’s disclosure. It left its staking position untouched even as its overall ETH balance grew.
The buildup has made BitMine the largest corporate holder of ETH. Fundstrat’s Tom Lee publicly defended the company’s funding model in June, after an insider warned of a cash gap. Lee has also framed crypto as a “wartime store of value” in prior remarks.
Independent market trackers reported the $73 million figure consistently, though BitMine’s own post did not break out the weekly purchase separately from its cumulative total.
Wall Street widens its ETH bet
Morgan Stanley filed final paperwork with the SEC for its Ethereum staking ETF, which would trade under the ticker MSSE. The product is a spot Ethereum ETF, holding the underlying token directly.
Its June amendments set a 0.14% annual sponsor fee, the lowest in its category, with 95% of staking rewards pledged to pass to shareholders. The process began in January 2026, when the firm submitted its initial registration statements.
On pace for a 5% target
The weekly accumulation keeps BitMine on pace toward its stated goal of controlling 5% of ETH’s total supply, a benchmark the company has cited for its treasury strategy.
Sources: The Defiant, Crypto Briefing
Trading involves risk.
Risk Disclaimer
