BitMine Immersion the Ethereum treasury company chaired by Tom Lee, has continued to expand its digital asset reserves, adding another 24,266 Ether in the past week. The move brings BitMine’s total ETH holdings to 4,167,768 ETH, reinforcing its position as the largest Ethereum treasury holder globally.
At current market prices, BitMine’s Ethereum reserves are valued at around $13 billion while its total crypto and cash holdings stand near $14 billion. The company did not disclose the average acquisition price for the latest purchase, though the added ETH alone is estimated to be worth over $75 million.
BitMine’s scale is notable not only in absolute terms but also relative to the network. Its ETH holdings now represent approximately 3.45% of Ethereum’s circulating supply, which is estimated at about 120.7 million ETH. Alongside Ether the firm also holds 193 Bitcoin, a strategic equity stake in another crypto-focused company, and close to $1 billion in cash.
Staking activity has accelerated sharply. BitMine’s staked ETH climbed to more than 1.25 million, nearly doubling in a single week. The company claims it has now staked more Ether than any other entity, contributing to recent congestion in Ethereum’s validator entry queue.
BitMine has stated a long-term goal of acquiring 5% of Ethereum’s circulating supply. Management argues that growing stablecoin usage, tokenization, and Ethereum’s role as a settlement layer could make 2026 a pivotal year for Ethereum’s adoption and valuation.
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