BitMine Immersion Technologies, the Ethereum treasury firm chaired by @fundstrat's Tom Lee, has added another 17,362 $ETH to its balance sheet, bringing its total holdings to 6,001,302 $ETH.
BitMine Immersion Technologies, the Ethereum treasury firm chaired by @fundstrat's Tom Lee, has added another 17,362 $ETH to its balance sheet, bringing its total holdings to 6,001,302 $ETH. The purchase puts the company within a hair's breadth of its long-stated goal of controlling 5% of Ethereum's circulating supply, with the firm now sitting at approximately 4.9%.
BitMine has been one of the most aggressive institutional accumulators of $ETH throughout 2026, buying consistently every week since adopting its Ethereum treasury strategy. The company has added ether every week since kicking off its Ethereum treasury strategy in June 2025. The latest purchase keeps that streak intact and brings the 5% milestone firmly into view.
With ether's supply at about 122 million tokens, BitMine needs roughly another 144,000 ETH to hit the 6.1 million mark, putting its target within sight if it keeps the acquisition pace. The firm's total assets, including cash and digital currency, now stand at $17.2 billion, reflecting the scale of its treasury operation relative to the broader market.
Accumulation is only half the story. Of BitMine's 6,001,302 $ETH, some 5,067,309 tokens are actively staked, representing around 84% of its total balance. BitMine had staked 5,067,309 ETH, worth roughly $13.6 billion, representing about 85% of the company's total ETH holdings. The firm runs its staking operations through its Made-in-America Validator Network (MAVAN), which provides projected staking revenues of around $230 million annually.
Lee has been vocal about his conviction in Ethereum's prospects heading into Q4. He said institutional investors remain "underweighted" crypto and expects them to increase exposure during the final three months of 2026.Since the end of June, ETH has risen 76%, far more than the S&P 500's modest 2% gain. Lee has argued that such outperformance could draw fresh attention from fund managers who have stayed light on crypto this year, particularly as tokenization of real-world assets and AI-driven blockchain use cases gather momentum.
With its treasury now crossing the 6 million $ETH mark and staking revenues compounding, BitMine has positioned itself as the dominant corporate holder of Ethereum. Whether it crosses the 5% threshold in the coming weeks will be one of the more closely watched milestones in institutional crypto this year.
Sources:CoinDesk: Bitmine adds $68M in Ether as Tom Lee sees more upside catalysts aheadDecrypt: Tom Lee's BitMine buys the dip, adding $214M in EthereumCoinDesk: Bitmine adds $92M of ETH as Tom Lee reaffirms crypto spring call
