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BitMine Spends Around $235 Million Buying Ethereum
- BitMine has acquired almost 112,000 $ETH.
- The company increased its crypto reserves to 5.39 million $ETH.
- It owns 4.47% of Ethereum’s total supply.
- BitMine expects to reach its target of holding 5% of the asset’s supply in 2026.
BitMine acquired 111,942 $ETH over the past week. This was announced by its head, Tom Lee. According to him, the company views Ethereum’s decline below $2,200 as an “attractive opportunity” to accumulate the asset.
The head of the firm also added that it aims to obtain 5% of Ethereum’s issuance in 2026. According to the company’s statement, BitMine’s Ethereum holdings account for 4.47% of Ethereum’s total supply of 120.7 million $ETH.
As of 25 May 2026, BitMine’s cryptocurrency reserves amounted to 5.39 million $ETH at a price of around $2,134 per coin, as well as 203 $BTC. In addition, the company owns a $200 million stake in Beast Industries, a $95 million stake in Eightco Holdings and holds $444 million in cash.
“We continue to expect a supercycle for the crypto market and Ethereum, driven by two forces — tokenisation by Wall Street and AI agents. Therefore, we continue to systematically accumulate Ethereum, and BitMine now holds almost 5.4 million $ETH,” Lee noted.
Separately, BitMine reported that as of 25 May 2026, the company had staked 4.71 million $ETH. At a price of around $2,134 per unit, this is equivalent to approximately $10.1 billion.
Lee stated that BitMine has staked more Ethereum than any other organisation in the world. According to him, after the full deployment of assets through MAVAN and partners, the company expects around $276 million in staking rewards per year. The calculation is based on BMNR’s seven-day yield of 2.75% annualised.
The company stated that its crypto reserves make BitMine the largest Ethereum treasury in the world. It is also the second-largest global crypto treasury after Strategy, which reportedly holds 818,869 $BTC worth around $64.1 billion.
As a reminder, Tom Lee earlier stated that BitMine had been included in the preliminary list for inclusion in the Russell 1000 stock index.
See also: "Bitcoin Falls Below $76K Amid Tensions Around Iran"
