Bitmine Immersion Technologies (BMNR) purchased 60,999 ether last week-the firm’s largest ETH acquisition of 2026-raising its total holdings to 4,595,562 ETH, now valued above $10 billion.
Despite market volatility and an estimated $6.5 billion in unrealized losses, Bitmine maintained a $1.2 billion cash position while increasing its stake in Worldcoin-focused treasury firm Eightco.
Chairman Thomas "Tom" Lee stated that since the onset of the Iran war, Ethereum has outperformed the S&P 500 by 2,450 basis points. He attributed crypto’s strength to investor appetite for growth assets amid fears of slowing global growth driven by rising oil prices.
Bitmine currently stakes 3.04 million ETH, generating approximately $180 million in annualized staking revenue, with potential earnings rising to $272 million as more tokens are committed to yield-producing protocols.