Bitmine Adds to Ethereum Holdings Amid Institutional Expectations

Bitmine Immersion Technologies (BMNR) continues to accumulate Ethereum (ETH) as part of its treasury strategy. According to a recent press release, BMNR purchased 17,362 ETH last week, bringing its total holdings past 6 million tokens.

This purchase adds to the company's existing stash of staked ETH through its MAVAN platform, with projected annualized revenue of $358 million.

BMNR now holds approximately $16.2 billion worth of Ethereum, accounting for nearly 5% of the total supply.

The company's chairman, Tom Lee, sees this milestone as proof of the network effects that come with owning a significant portion of the ETH supply. He also believes institutions remain underweight crypto and will increase exposure in the final months of 2026.