Bitmine Immersion Technologies (BMNR), the largest Ethereum treasury managed by Thomas “Tom” Lee, now holds 4.4 million ETH, valued at approximately $8.5 billion. This significant accumulation represents about 3.7% of Ethereum’s circulating supply, advancing Bitmine towards its 5% target.
Tom Lee stated that despite market fluctuations, Bitmine remains committed to its disciplined Ethereum acquisition strategy. He emphasized that the current market presents a prime opportunity, citing Ethereum's expanding utility and adoption.
"In the midst of this ‘mini crypto winter,’ our focus continues to be on methodically executing our treasury strategy and steadily acquiring ETH and, in turn, optimizing the yield on our ETH holdings," Lee said. "In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance."
Over 3 million ETH, valued at roughly $6 billion, are currently staked, generating $171 million in annualized staking revenue. Bitmine's proprietary staking solution, MAVAN, is slated for a Q1 2026 launch.
Beyond its substantial ETH holdings, Bitmine also possesses 193 BTC, $691 million in cash, and various strategic investments.