Bitmine Reaches 5 Million ETH Milestone as Crypto Bull Market Gains Momentum
Bitmine Immersion Technologies (BMNR) has reached an important milestone in its crypto holdings, announcing that it now owns 5.98 million ETH tokens. This represents 4.9% of the total ETH supply of 122.1 million coins. The company's Chairman, Thomas 'Tom' Lee, stated, 'a crypto bull market is underway,' driven by factors such as a rotation from AI back to crypto and strengthening crypto fundamentals.
Bitmine's track record of consistent buying of crypto has been unmatched by any public company in the world, with the company buying ETH each week since June 30, 2025. The company's total staked ETH stands at 5,067,309, generating an annualized yield of $357 million.
Lee believes that institutions will substantially increase their exposure to crypto in the final three months of 2026, adding 'meaningful upside' to gains seen since June 30th. Bitmine's management also sees parallels between the GENIUS Act and SEC's Project Crypto with the US action on August 15, 1971, which ended the Bretton Woods system.