Bitmine Immersion Technologies extended its uninterrupted weekly ETH buying, adding 15,112 Ethereum this week and bringing its holdings to 6,016,414 ETH. Using a reference price of $2,726 per ETH, the company values that stash at roughly $16.4 billion, and counts total assets, including cash and “moonshots,” at $17.4 billion. The 6,016,414 ETH equals about 4.9% of Ethereum’s 122.1 million supply, which Bitmine says places it 99% of the way toward its self-styled “Alchemy of 5%” target.
Chairman Tom Lee launched the treasury program on June 30, 2025, and the firm has bought weekly since. About 5,067,309 ETH, roughly 84% of its holdings, are staked through its MAVAN institutional platform; Bitmine projects annualized staking income of approximately $363 million. Balance-sheet diversifiers include 214 Bitcoin, $643 million in cash and marketable securities, a $180 million stake in Beast Industries and $117 million in Eightco Holdings.
Lee has framed the 5% threshold as a driver of network effects and institutional attention, and he highlighted relative performance: BMNR fell 3% in the first nine months of 2026 while ETH dropped 10%. Bitmine remains the world’s largest Ethereum treasury and the second-largest crypto treasury overall, and the company is emphasizing the path to that next milestone as it narrows the gap to its stated goal.