Bitmine Boosts Ethereum Holdings to Nearly 5% of Total Supply

Bitmine Immersion Technologies has boosted its Ethereum holdings to nearly 5% of the total supply. The company purchased an additional 9,926 ETH, bringing its total holdings to approximately 5.8 million ETH.

This purchase brings Bitmine's Ethereum stake closer to its target of 5%. Chairman Tom Lee highlighted the rising ETH/BTC ratio as a sign of increasing market recognition of Ethereum's role in tokenization and agentic AI applications.

Lee predicts that these factors will drive growth in the next crypto cycle. Bitmine also reported staking over 5 million ETH with a 2.61% weekly yield, projecting $250 million in annualized staking revenue.