BitMine Immersion Technologies bought 42,197 ETH worth about $73 million over the past week, lifting its stake to 5,742,237 ETH — roughly 4.8% of Ethereum’s circulating supply. The purchase keeps the Tom Lee-chaired treasury firm on pace toward its goal of holding 5% of all ETH.
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 a holdings update the company posted Monday. That buy pushed its total to 5,742,237 ETH, about 4.8% of Ethereum’s circulating supply.
Alongside the fresh purchase, the company put its total crypto and other holdings at $11.1 billion, with the ETH position valued at $1,800 per coin. It also reported 206 BTC, a $180 million stake in Beast Industries and a $71 million stake in Eightco Holdings (NASDAQ: ORBS), plus $527 million in cash and marketable securities, per the same update.
Even as the overall balance grew, BitMine’s staked ETH stood at 4,879,157, unchanged from the prior week. The firm did not add to its staked position despite the week’s accumulation.
That buildup has made BitMine the largest corporate holder of ETH, and the weekly buying keeps it on pace toward its stated goal of controlling 5% of the token’s total supply. Lee has framed crypto as a “wartime store of value” in prior remarks, and he defended the company’s funding model in June after an insider warned of a cash gap.
Still, the $73 million figure and the 4.8% calculation were reported consistently across several independent market trackers, though BitMine’s own post did not break out the weekly purchase separately from its cumulative total.
Source: The Defiant
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