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Bitmine Buys $81 Million in ETH During Crypto Rally

Bitmine has grown its ETH treasury to nearly 4.8% of the total supply and is staking most of the tokens. The purchase comes as Ethereum rebounds above $2,500.

By Mike Hesp
• 2 min read
Bitmine Buys $81 Million in ETH During Crypto Rally

Key Takeaways

  • Bitmine Immersion Technologies bought 32,447 ETH last week for about $81 million.
  • Bitmine's total ETH holdings rose to 5,847,611 tokens, with an estimated value of $14.6 billion.
  • The company has staked 5.07 million ETH and is still aiming for about 5% of the total Ethereum supply.

Bitmine Immersion Technologies stepped up its ETH purchases last week and bought 32,447 ETH, worth about $81 million (€69.2 million) at Monday's price. That brought the company's total holdings to 5,847,611 tokens, with an estimated value of about $14.6 billion (€12.5 billion). BMNR shares were up 3.5% in premarket trading as ETH moved above $2,500 (€2,140).

Bigger Move After Quiet Weeks

The purchase fits into a broader buildup that Bitmine has maintained since June 2025. Led by Tom Lee, the company buys ETH for its treasury every week, although the additions have been smaller in recent months as it got closer to its own goal of owning 5% of the Ethereum supply.

Based on the current supply of 120.7 million ETH, Bitmine now stands at about 4.8% of the total. To reach the 5% mark, the company would need to hold around 6.04 million ETH, which means it is still short by about 187,000 tokens.

Staking Brings in Extra Yield

Bitmine also puts most of its holdings to work through staking. The company has staked 5.07 million ETH, or about 87% of its holdings, and expects annual staking revenue of around $330 million (€282 million) at current yields.

That buildup makes Bitmine one of the largest public ETH treasuries in the market. For European crypto followers, the key point is that these huge corporate positions show not only how far treasury strategies have evolved, but also how deeply Ethereum is now tied to staking and broader market expectations.

Lee Sees More Room

The buying spree came alongside a rebound in the crypto market. ETH rose about 30% over the past week, and Lee pointed out that past weeks with a similar rise have also been followed by a much bigger move. He did stress, though, that historical patterns do not guarantee the same outcome.

Lee also pointed to looser financial conditions, Wall Street's push to tokenize assets, and the possible use of blockchain by AI agents as factors that could further support Ethereum. He also expects those trends to make ETH stronger relative to Bitcoin.

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