Tom Lee-Backed Bitmine’s Ethereum Holdings Cross 5 Million Tokens

• Bitmine described crossing the 5 million ETH mark as an “unprecedented world record.”
• Bitmine acquired 101,901 ETH over the past week, which chairman Tom Lee said was its fastest pace of accumulation since December 2025.
• Approximately 3.7 million ETH, which amounts to around 73% of Bitmine’s total holdings, are staked, generating annualized revenue of around $264 million.

Shares of Tom Lee-backed Bitmine Immersion Technologies (BMNR) moved lower in early morning trade, amid weakness in the broader market, after the company announced its total Ethereum (ETH) holdings now exceed 5 million. 

According to the company, the 5 million threshold is an “unprecedented world record.” BMNR’s stock moved 0.27% lower in pre-market trade. On Stocktwits, retail sentiment around the Ethereum digital asset treasury (DAT) dipped to ‘bearish’ from ‘neutral’ territory, and chatter fell to ‘low’ from ‘neutral’ levels. 

“In the past week, we acquired 101,901 ETH, which is the highest pace of buys since the week of December 15, 2025," Lee said. He added that the company's annualized staking revenues are now at $264 million after 3.7 million ETH staked, which is about 73% of the 5.08 million ETH held by Bitmine. 

Ethereum’s price dropped 0.6% in the last 24 hours, holding above $2,300. Retail sentiment around the leading altcoin trended in ‘neutral’ territory over the past day, with chatter at ‘normal’ levels. 

Bitmine Moves Close To ‘Alchemy Of 5%’

In the update, Bitmine said it now holds 200 Bitcoin, a $200 million stake in Beast Industries, a $91 million stake in Eightco Holdings (ORBS) and $940 million in cash, in addition to its Ethereum holdings. 

The company aims to acquire 5% of Ethereum’s total token supply, which Lee calls “the alchemy of 5%.” So far, Bitmine's ETH holdings are 4.21% of the ETH supply, which means it has completed around 84% of its goal.

"Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains,” said Lee. He added that Ethereum is currently in the “final stages” of the “mini-crypto winter.”

BMNR Vs MSTR Vs ASST

Year-to-date, Bitcoin-linked digital asset treasuries like Strategy (MSTR) and Strive (ASST) have fared better than Bitmine against their primary holdings. BMNR’s stock has fallen over 20% this year, while Ethereum’s price has tumbled over 22%. Meanwhile, ASST’s stock has gained over 4% this year, and MSTR’s stock has gained 10%, while Bitcoin’s price has fallen over 11%. 

Read also: Michael Saylor’s Latest Bitcoin Buy Is 10x Smaller After $2.5B Spending Spree

For updates and corrections, email newsroom[at]stocktwits[dot]com.