Bitmine expands Ethereum holdings to 5.85 million ETH

Bitmine Immersion Technologies has expanded its Ethereum treasury, purchasing an additional 32,447 ETH last week. This brings the company’s total holdings to approximately 5,847,611 ETH, representing about 4.8% of the total Ethereum circulating supply. The firm is nearing its stated goal of owning 5% of all ETH.

Bitmine Chairman Tom Lee noted that Ethereum’s recent 30% weekly price surge mirrors historical patterns from 2021 and 2025 that preceded much larger rallies. Lee attributed the growing demand to factors such as Wall Street’s push into asset tokenization, the rise of Agentic AI, and improving global financial conditions.

To generate recurring revenue, Bitmine has staked approximately 87% of its holdings, totaling over 5 million ETH. The company expects this staking strategy to yield roughly $330 million to $381 million in annualized revenue. The company’s total asset value, including crypto, cash, and strategic equity stakes in companies like Beast Industries and Eightco Holdings, has reached approximately $14.9 billion.