BitMine acquires 112,000 ETH worth $237M, largest purchase this year
Publicly traded Ethereum treasury firm BitMine Immersion Technologies added 111,942 ETH (over $237 million) to its balance sheet last week, the largest ETH-denominated purchase this year. This brings total holdings to 5,390,404 ETH (≈$11.4 billion), representing over 4.4% of circulating supply—more than 88% toward its 5% target, which chairman Tom Lee expects to achieve by 2026. Despite a prior indication to slow purchases, Lee cited the sub-$2,200 ETH price as an attractive opportunity, reiterating belief in a crypto supercycle driven by tokenization and AI. Over 4.7 million ETH (≈$10 billion) is staked via its MAVAN platform, yielding annualized revenue of ~$276 million. BMNR shares rose 3.3% on the day but are down 12% over the past month and 38% over six months. The firm expects a liquidity boost from its upcoming inclusion in the Russell 1000 index. ETH itself has dropped 2% in 24 hours to ~$2,078, down 11% this month and 58% from its all-time high.
Key facts
- BitMine bought 111,942 ETH ($237M) last week, its largest ETH-denominated purchase in 2025.
- Total ETH holdings reach 5.39M (≈$11.4B), 4.4% of circulating supply, 88% toward 5% target.
- Over 4.7M ETH staked via MAVAN platform generates ~$276M annualized revenue.
- BMNR shares rose 3.3% but are down 38% over six months; Russell 1000 inclusion expected soon.
- ETH trades at $2,078, down 58% from its all-time high of $4,946.