Bitmine Immersion Technologies has purchased 27,562 Ethereum, valued at approximately $74 million. This acquisition continues the company's weekly buying streak that began on June 30, 2025. Following this transaction, the firm's total Ethereum holdings reached 5,983,940 ETH, which is valued at roughly $16.1 billion based on a reference price of $2,688 per coin.
The company now controls 4.9% of the total Ethereum supply of 122.1 million tokens. Bitmine aims to reach a 5% ownership stake, a goal it refers to as the Alchemy of 5%. As of Saturday, the firm's total treasury, including Bitcoin, cash, marketable securities, and stakes in Beast Industries and Eightco Holdings, reached $17.1 billion.
Bitmine currently operates as the largest Ethereum treasury globally and the second-largest crypto treasury overall. The company generates staking income through its MAVAN platform, where 5,067,309 ETH are staked. This activity is projected to yield approximately $357 million in annualized revenue.
Chairman Tom Lee stated that a crypto bull market has been active since late June. He noted that Ethereum has outperformed the S&P 500 by 6,519 basis points this quarter. Lee is scheduled to present the keynote address at Korea Blockchain Week on September 30.
