Bitmine Immersion Technologies, the ETH treasury vehicle backed by Fundstrat's Tom Lee, purchased 71,672 ETH ($153.66 million) last week, bringing its total holdings to 5,278,462 ETH — worth approximately $11.32 billion at current prices. The firm's total crypto and cash position now stands at $12.6 billion.
The staking angle is what sets Bitmine apart from a passive treasury play: 4,712,917 ETH — 89.29% of its entire stack — is actively staked, generating yield on a $10.1 billion base. That's not a hedge; it's a structured income position on the world's largest proof-of-stake network.
Bitmine now controls more than 4.37% of ETH's total circulating supply of 120.7 million tokens, and is 87% of the way to its self-declared 'Alchemy of 5%' threshold — a milestone the firm says it reached in just 11 months. If the accumulation pace holds, Bitmine could cross 5% of total ETH supply within…
Lookonchain