BitMine Nears 5% ETH Target with Latest $18.9 Million Acquisition

BitMine Immersion Technologies, chaired by Tom Lee, has made another significant purchase of Ethereum tokens. The company acquired 9,926 ETH over the past week, bringing its total holdings to 5,815,164 ETH.

This represents approximately 4.8% of Ethereum's circulating token supply and is just 220,000 ETH shy of BitMine's stated goal of accumulating 5% of all ETH. The company has been steadily increasing its Ethereum position since launching its treasury strategy in June 2025, with an average of one purchase per week.

BitMine currently holds over $11 billion in crypto assets, including a significant stake in MAVAN infrastructure and third-party staking partners. The company projects annualized staking revenue of approximately $250 million once its infrastructure is operating at scale.