Bitmine Near 5% Ethereum Control as ETH Staking Grows

Bitmine Immersion Technologies, led by Tom Lee of Fundstrat Global Advisors, is nearing 80% of its goal to hold 5% of all Ethereum.

Backed by institutional investors like Cathie Wood’s ARK Invest and Peter Thiel’s Founders Fund, Bitmine currently holds over 4.7 million ETH, valued at approximately $9.8 billion.

The firm has staked 3.1 million ETH via MAVAN staking platform, generating $177 million in annualized yield.

Bitmine also holds 197 Bitcoin, $102 million in ORBS shares, and $200 million in Beast Industries.

Despite recent market volatility, Lee asserts that ETH has outperformed traditional assets during geopolitical uncertainty.

"Crypto and equities show increasing inverse correlation with oil prices," Lee said. "The crypto winter may end when oil price upside peaks."

With ETH accumulating rapidly, Bitmine could reach its 5% target before mid-2026.

Ethereum is down ~30% YTD but shows signs of recovery as whale and corporate wallets continue buying.