Bitmine’s CEO remains optimistic, saying “the best years for crypto are still ahead.” Against this backdrop, the company added $90M in ETH▼$1,657.29 over the past week.
Bitmine Immersion Technologies, the largest corporate holder of Ethereum (ETH), continues to build its reserves. Over the past week, it acquired 52,203 ETH worth roughly $90M. Its total portfolio has reached 5.67 million ETH, which is ~4.7% of the second-largest cryptocurrency’s circulating supply.
Hot topic: Can Ethereum Reach $5,000 in 2026? The Hidden Catalysts That Could Trigger the Next ETH Surge
Company chairman Tom Lee said the firm remains on track to own 5% of all ether and has now completed 94% of that plan.
Contents
How Bitmine Is Profiting From ETH: Buying and Staking
Beyond Ethereum, Bitmine holds 205 Bitcoins (BTC), stakes in Eightco Holdings and Beast Industries, and $601M in cash and marketable securities. Total assets are estimated at $10.7B.
Bitmine is also actively staking. More than 83% of its ETH, or 4.72 million coins, are locked in the network, earning a 2.73% annual yield. That’s projected to generate about $223M in yearly income–a figure that could rise to $268M once its MAVAN infrastructure is fully operational.
To fund its purchases, the company issues preferred dividend shares under the ticker BMNP. Despite pressure on similar instruments at bitcoin-focused firms like Strategy, Bitmine continues to raise capital. It recently sold 3.5 million Series A shares worth about $274M.
Read more: Crypto Spring 2026 — Why Tom Lee Says the New Bull Cycle Has Already Begun
“Crypto Spring” and Tom Lee’s Long-Term Outlook
Tom Lee remains bullish despite the current market correction. He says the industry is in the “early stage of crypto spring” and that “the best years for crypto are still ahead.” In his view, asset tokenization and AI development will drive exponential demand for blockchain and decentralized tech.
In May, he said if bitcoin closed the month above $76K, it would signal the end of the bear market. BTC▼$62,270.00 didn’t hit that level–and later fell below $60K. Still, Lee said the failure doesn’t change his long-term view.
Bitmine remains the second-largest corporate crypto holder after Strategy, which holds about 847K BTC. Its ETH accumulation during a bear market signals confidence in Ethereum’s long-term growth, especially through staking and institutional applications. Still, the company sits on billions in unrealized losses–ETH is trading around $1,760, well below its all-time high of $4,946.
Learn more: Ethereum’s Glamsterdam — A Complete Guide to Ethereum’s Upcoming Upgrade
