Bitmine Surpasses 5.9 Million Ethereum Tokens Amid Institutional Buying Spree

Bitmine Immersion Technologies continues to grow its Ethereum holdings, adding $68 million in ETH last week. The company now holds nearly 6 million tokens, with approximately 85% of them staked. This represents a significant portion of the cryptocurrency's supply, and Bitmine believes it sets the stage for institutions to add to their crypto holdings.

In an announcement on Monday, Bitmine stated that its Ethereum holdings are worth around $14.89 billion as of Sunday evening, which is roughly 4.9% of Ethereum's total supply. This comes after the company purchased another 27,180 ETH last week, bringing its total to nearly 6 million tokens.

Bitmine Chairman Tom Lee noted that the company has been buying Ethereum every week since starting its treasury strategy on June 30, 2025. He also stated that ETH is the best-performing macro asset during the quarter, outperforming the S&P 500 by 5,866 basis points.