Bitmine Immersion Technologies has purchased an additional 27,180 ETH for $68 million, at a price of approximately $2,500 per token. This transaction brings the company's total holdings to nearly 5.96 million ETH, representing about 4.9% of the circulating supply.
The company has been executing weekly ETH purchases since June 30, 2025. Bitmine aims to reach a 5% ownership threshold, requiring an additional 144,000 ETH to achieve this goal. The firm currently holds the position of the largest publicly disclosed corporate owner of Ethereum.
Chairman Tom Lee noted that the ETH/BTC ratio has reached its highest level since January 30, 2026. He identified tokenization of real-world assets, agentic AI on blockchain, and the proposed Clarity Act as key demand catalysts for the asset.
Bitmine has staked over 5 million of its tokens, with projected annualized revenue from staking reaching approximately $330 million. Given the current balance, a one percent change in the price of Ethereum results in roughly $149 million in paper gains or losses.
