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ETH BitMine Immersion Technologies: Approaching the 5% target and becoming the largest institutional holder of Ethereum
BitMine Immersion Technologies, the Ethereum treasury management company headed by Tom Lee (well-known market strategist and founder of Fundstrat), recently added 17,362 ETH to its balance sheet again. After this increase in holdings, its total positions reached 6,001,302 ETH.
This move puts the company just one step away from its long-standing goal of "controlling 5% of Ethereum's circulating supply," with its current shareholding of approximately 4.9%.
Steadily approaching the 5% milestone
During 2026, BitMine has been an aggressive institutional-level ETH accumulator. Since launching its Ethereum treasury strategy in June 2025, the company has continued to buy Ether every week without interruption.
The latest purchases maintain this winning streak and clearly present the 5% milestone in front of us. Given that Ethereum's total supply is approximately 122 million tokens, BitMine will need to purchase approximately 144,000 more ETH to reach its target level of 6.1 million tokens. If the current pace of acquisitions is maintained, this goal is within reach.
Currently, the company's total assets, including cash and digital currency, have reached US$17.2 billion, reflecting the sheer size of its treasury operations relative to the entire market.
Pledges as part of core strategy
Accumulations are only half the story. Of the 6,001,302 ETH held by BitMine, approximately 5,067,309 tokens are actively pledged, accounting for approximately 84% of the total balance. The value of these pledged ETH is approximately US$13.6 billion, accounting for 85% of the company's total ETH positions.
该公司通过其“美国制造验证人网络”（MAVAN）运行质押业务，预计每年可为公司带来约2.3亿美元的质押收益。
Tom Lee看好第四季度表现
Tom Lee对以太坊在第四季度的前景持坚定信念。他指出，机构投资者目前对加密货币的配置仍然“偏低”，并预计他们在2026年的最后三个月将增加敞口。
自6月底以来，ETH价格上涨了76%，远超标普500指数微弱的2%涨幅。Lee认为，这种优异的表现可能会吸引那些今年一直轻仓配置加密货币的基金经理们的注意，尤其是随着现实世界资产代币化和人工智能驱动的区块链用例不断获得动力。
随着其国库规模突破600万枚ETH大关，且质押收益正在复利增长，BitMine已将自己定位为以太坊的主导企业持有者。未来几周能否跨越5%的阈值，将成为今年机构加密领域最受关注的里程碑之一。
