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First reported by bsky

Bitmine Immersion Technologies Reports 5.67 Million ETH Holdings, Worth $10.7 Billion in Total Reserves

Bitmine buys $43M in ETH amid price slide; Tom Lee attributes weakness to quarter-end rebalancing

Krisztian Sandor

7d ago· 2 min readenNews

finance business cryptocurrency corporate treasury

Summary

Bitmine Immersion Technologies (BMNR), the largest Ethereum treasury company, purchased 27,084 ETH (~$43M) last week, extending its accumulation streak despite falling crypto prices. The purchase brings Bitmine's total holdings to 5.7 million ETH (~$8.9B), representing roughly 4.7% of Ethereum's circulating supply. Tom Lee attributes recent bitcoin and ether weakness to quarter-end rebalancing as investors cut losses before H2. This was Bitmine's smallest purchase since early May.

Source

bskyBitmine buys $43M in ETH amid price slide; Tom Lee attributes weakness to quarter-end rebalancingcoindesk.com

Key quotes

· 3 pulled

Tom Lee, chairman of Bitmine and cofounder of Fundstrat, speaking at Consensus 2026 in Miami (CoinDesk)

The purchase, worth roughly $43 million based on ETH's current price of around $1,580, lifted Bitmine's holdings to 5.7 million ETH

The stash is worth about $8.9 billion and represents roughly 4.7% of Ethereum's circulating supply, nearing the firm's 5% goal.

Snippet from the RSS feed

Bitmine made its smallest purchase since early May as Lee pointed to investors cutting losses before the start of the second half of the year.

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