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✨BitMine Immersion Technologies (BMNR), headed by Tom Lee, today purchased a total of 30,000 ETH for $61.89 million. This purchase quickly spread throughout the crypto community. BitMine's routine of large weekly purchases continues; this is a true "institutional whale" move.
✨This purchase is the latest in BitMine's "Alchemy of 5%" strategy. The company aims to reach 5% of Ethereum's total circulating supply and currently holds 4.535 million ETH (3.76% of the total supply). This makes BitMine the company with the largest Ethereum treasury in the world. The firm, which stakes 67% of its holdings, generates approximately $200-259 million in annual revenue through staking. Tom Lee, in his recent statements, describes market corrections as "attractive buying opportunities":
"The price of Ethereum does not reflect the network's record-breaking utility. This technology will be the future of finance. We are acting accordingly."
$ETH
Following this transaction, the company's total Ethereum holdings reached:
4,534,563 ETH
This amount corresponds to approximately 3.76% of the Ethereum supply
The total value of ETH holdings is around $9 billion
The company's total asset portfolio is over $10 billion
These figures position BitMine as one of the largest institutional Ethereum holders in the world.