BitMine Acquires 53,501 ETH, Boosting Holdings to Near-6 Million
BitMine Immersion Technologies has made its largest weekly Ethereum (ETH) acquisition since June, buying 53,501 ETH worth $14.63 billion. This purchase brings BitMine's total holdings to 5.901 million ETH and positions the company at 4.9% of Ethereum's circulating supply, nearing Tom Lee's strategic 'Alchemy of 5%' threshold.
The acquisition is part of an uninterrupted buying campaign that began on June 30, 2025, with BitMine expanding its Ethereum treasury for 65 consecutive weeks.
BitMine's Ethereum reserves have also attracted substantial staking revenue, with 86% of its ETH being deployed to staking through the Made in America Validator Network (MAVAN) and other partners. The company anticipates generating around $335 million in annualized staking revenue based on a seven-day yield of 2.63%, with projections showing potential earnings of $390 million if the full treasury is staked.
Meanwhile, spot Ethereum ETFs have attracted $824 million in net inflows last week, marking the strongest performance since October. Chairman Lee has highlighted ETH's third-quarter outperformance against the S&P 500 as evidence of growing institutional interest, with ETH delivering a 5,430 basis point outperformance during Q3.