Bitmine Immersion Technologies bought 12,532 ETH over the past week, worth about $31.9 million at the $2,544 per-token valuation, bringing its holdings to 6,028,946 ETH, or 4.9% of the 122.1 million Ethereum supply. Chairman Tom Lee said the firm needs about 100,000 more ETH to reach its 5% target, after which its Ethereum buying will stop. Total crypto, cash and investment holdings were valued at $16.2 billion, including 214 BTC, and the firm has staked 5,067,309 ETH, which Lee said generates about $336 million in annualized staking revenue. Lee predicted the biggest crypto bull market ever, and said that if ETH rises a lot after the firm stops buying, Bitmine could outperform Ethereum.
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Related tickers and likely impact
ETH/USDT
▲ Likely positiveEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $294.2B |
| Close on 10/11/2026 | 2,536.94 |
| Change that session | +1.21% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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