Bitmine’s Ethereum Holdings Reach Record 5 Million Tokens–CEO’s Bullish Outlook

Bitmine Immersion Technologies, a major crypto holding company, has provided a significant update on its Ethereum strategy. The company's total crypto holdings now amount to $13.3 billion. Bitmine's Ethereum holdings have reached a new record of over 5 million tokens, valued at approximately $2,369 per ETH. This accumulation is a key step towards their long-term goal of acquiring 5% of the total Ethereum supply. Chairman Thomas Lee highlighted the astonishing speed of this accumulation, achieved in roughly ten months. Lee supports Ethereum as a store of value, citing research and its performance, especially during geopolitical events. He noted that ETH has significantly outperformed the S&P 500 since the start of recent conflicts. Lee also connected Ethereum's growth to Wall Street's tokenization efforts and the demand from agentic AI systems. Bitmine has maintained an increased pace of ETH purchases over the past four weeks, with the most recent week showing the highest buying volume since December 2025. The company believes this strategy aligns with Ethereum being in the final stages of a "mini-crypto winter." Bitmine also reported staking 3,701,589 ETH tokens, valued at $8.8 billion, generating annualized staking revenues of $264 million. Despite market improvements, Ethereum experienced a slight price retracement on Monday.