Bitmine Immersion Technologies has reached 97% of its goal to own 5% of all Ethereum after adding 32,447 ETH over the past week. The firm now holds about 5.9 million ETH and has staked most of that position as Ether extends a sharp weekly rally.
Bitmine Immersion Technologies has made 97% of its way toward its goal of owning 5% of all Ethereum after adding 32,447 ETH over the past week, the company said Monday. The purchase pushes the largest Ether treasury firm to about 5.9 million ETH, or 4.8% of Ether's total supply.
Staking dominates the treasury
Bitmine has staked over 5 million ETH, representing 87% of its ETH holdings and about $12.4 billion at the company's stated ETH price. Its Made in America VAlidator Network, or MAVAN, provides institutional-grade staking infrastructure. The company reported a 2.67% seven-day staking yield with projected annualized staking revenue of $330 million.
Lee points to a wider crypto rally
The latest acquisition came amid a sharp recovery across most crypto assets, with Ether gaining more than 30% last week. Bitmine Chairman Thomas "Tom" Lee sees room for the rally to extend, noting that similar 30% weekly gains in 2021 and 2025 were followed by much larger advances.
According to Crypto Briefing: "This ETH/BTC ratio has moved up during crypto bull cycles, driven by increasing use of" Ethereum relative to Bitcoin, Lee said. He attributed prior cycles to ICOs in 2017-2018, NFTs in 2020-2021 and stablecoins in 2025, and said this next cycle would be driven by Wall Street tokenizing on the blockchain and by agentic-AI using blockchains.
Beyond ETH
Bitmine's total crypto, cash, marketable securities and "moonshots" holdings have grown to $14.9 billion. The portfolio also includes 210 BTC, $308 million in cash and marketable securities, a $180 million stake in Beast Industries and $89 million invested in Eightco Holdings.
Source: Crypto Briefing
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