Bitmine expands Ethereum holdings, targeting 5% of supply despite price dip

Bitmine Immersion now controls about 5.4 million Ether tokens, a portfolio valued at roughly $10.5 billion. The company aims to own 5 % of Ethereum’s circulating supply by the end of 2026, putting it within striking distance of that goal.

In the past week the firm purchased 26,497 ETH for about $52 million, even as Ethereum traded near $2,000 and fell 4.7 % over the same period. Bitmine’s chairman Tom Lee said the price does not reflect the strengthening fundamentals of the network and described the current market as a “crypto winter” that is likely to end. The large stake, roughly 4.5 % of circulating Ether, makes Bitmine the biggest corporate Ether holder and underlines its view of ETH as a long‑term reserve asset rather than a short‑term trade.