BitMine Immersion Technologies, Inc. — the NYSE-listed crypto treasury firm chaired by Tom Lee of Fundstrat — disclosed that it acquired 45,759 Ether (ETH) last week, pushing its total Ethereum holdings to roughly 4.37 million ETH, worth an estimated $8.68 billion at current prices. The move underscores BitMine’s ongoing long-term accumulation strategy amidst broader market volatility.
Aggressive ETH Accumulation Strategy Continues
According to a corporate update, BitMine added 45,759 ETH (~$91 million) to its treasury over the past week as part of its strategic accumulation initiative — a trend that has persisted across recent quarters. This push raised the company’s total Ethereum holdings to approximately 4.3715 million ETH, representing about 3.62 % of the 120.7 million total circulating ETH supply.
The company also highlighted that around 3.04 million ETH of its total is currently staked, generating annualized staking yield near market rates and contributing recurring revenue alongside long-term capital allocation.
Accumulation Objective: “Alchemy of 5 %”
BitMine’s accumulation effort is part of a strategy internally dubbed “Alchemy of 5 %”, where the firm seeks to build a diversified crypto treasury aimed at owning up to 5 % of total Ethereum supply over time. Company leadership views the current market conditions, including weak sentiment and lower prices, as a compelling opportunity to continue building positions.
Chairman Tom Lee reiterated that the firm sees Ethereum’s utility, decentralization, and expanding use cases as key drivers for long-term value. He and other executives have previously stated that institutional accumulation of ETH highlights confidence in the network’s fundamentals and future role in tokenization, decentralized finance and Web3 infrastructure.
Market Context and Institutional Interest
BitMine’s growing ETH treasury remains one of the largest corporate Ethereum holdings globally, second only to the combined holdings of other public crypto treasuries when measured by dedicated allocation strategy. The company’s high trading liquidity — averaged at hundreds of millions of dollars per day for its stock (NYSE: BMNR) — reflects robust institutional interest and investor engagement throughout 2025 and early 2026.
Market watchers have noted that despite broader weakness in crypto prices this year, institutional investors continue to pursue strategic accumulation of digital assets via corporate balance sheets, staking platforms, and regulated investment products, seeking long-term exposure rather than short-term speculative gains. This aligns with BitMine’s own buy-and-hold accumulation thesis.
Looking Ahead
With its ETH holdings now valued near $8.7 billion, BitMine is positioned as a critical institutional player in the Ethereum ecosystem. Analysts will be watching how continued on-chain accumulation, staking revenue and strategic initiatives — such as the planned launch of BitMine’s validator network — influence both the firm’s financial outlook and broader market liquidity in 2026.
Also Check: Harvard Cuts Bitcoin Stake by 21% While Adding $87 Million in Ethereum ETF Exposure
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