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Following
ETH Tom Lee's Bitmine continues to increase its holdings in Ethereum, holding nearly 5.8 million ETH holdings.
Bitmine Immersion Technologies, chaired by Tom Lee, continues to expand its Ethereum reserves, adding nearly 10,000 ETH holdings in the past week. The purchase was slightly larger than the previous week, but still well below the multiple transactions completed a month ago. Looking back, the former Bitcoin miner purchased more than 52,000 ETH units in June.
Add 9,946 ETH
A press release issued by the company details this remarkable continuous increase in holdings, pointing out that the company has been buying Ethereum for more than a year. In fact, this wave of accumulation began with the Ethereum Reserve Strategy launched on June 30, 2025, and continues to this day. The 9,946 ETH purchases in the past week bring Bitmine's total holdings to 5,787,414 ETH, worth more than US$11 billion at current prices. However, with the average buying price almost double the current price, the company is still in deep losses.
Bitmine said its core goal remains to reach 5% of Ethereum's total supply. It is currently less than 0.2% short of this target, but this progress continues to demonstrate that although the company already controls nearly 1 in 20 existing Ethereum, it is still committed to continuing to accumulate Ethereum. Chairman Tom Lee is optimistic about the industry as a whole, especially Ethereum, pointing out that the ETH/BTC trading pair is strengthening and the recent technical aspect has also shown positive momentum. As the largest altcoin by market value, Ethereum has outperformed the market in the past few days, rising 5% daily and hitting a nearly two-month high of nearly $2,000. Lee believes that $2,000 and $2,500 are the main resistance levels for ETH on the road to a major recovery.
Pledges continue
At a time when the number of verifiers actually wanting to release the pledge has dropped to almost zero, Bitmine has doubled its strategy and put almost all of its positions into operation. The company revealed that through its institutional platform MAVAN, more than 4.9 million ETH have been pledged. Allowing 85% of the total positions means that the company has a 7-day pledge yield (annualized) of 2.65%, and expected annual revenue of approximately US$254 million. The company plans to pledge all of its Ethereum assets, which will increase annual revenue to approximately $300 million.
