Bitmine Immersion Technologies said its Ethereum treasury had reached 5,390,404 ETH as of May 25 Eastern Time. Using the Coinbase reference price cited in the source, about $2,134 per ETH, the company’s holdings amount to roughly 4.47% of Ethereum’s total supply. Bitmine also said it bought 111,942 ETH over the past week after the token fell below $2,200.
Large weekly purchase pushed treasury closer to the 5% target
The update was released on May 26, 2026, shortly after Bitmine moved from NYSE American to the New York Stock Exchange. Chairman Tom Lee said the company treated the pullback below $2,200 as a buying opportunity. The firm’s stated “Alchemy of 5%” strategy is to acquire and hold 5% of total ETH supply. Based on the figures in the source material, Bitmine has completed about 89% of that goal.
$12.3 billion treasury and broad staking exposure
Beyond its ETH position, Bitmine said its treasury, including crypto, cash, and startup investments, stood at $12.3 billion. The company reported $444 million in cash reserves and a symbolic holding of 203 BTC. It also listed “Moonshots” investments including $200 million in Beast Industries and $95 million in Eightco Holdings.
Bitmine said it uses its institutional Ethereum staking platform, MAVAN, to generate yield from its treasury. At present, about 87% of its ETH holdings, or roughly 4,712,917 ETH, has been staked. Using the approximately 2.75% yield cited in the source, the company projected annual passive income of around $276 million.
Tom Lee points to tokenization and Agentic AI demand
The source also named several backers connected to Bitmine, including Cathie Wood of ARK Invest, Founders Fund, Pantera Capital, Kraken, and DCG. Its stock recorded a five-day average daily trading value of $572 million, placing it among the top 200 listed U.S. stocks by that measure. Lee said he remains bullish on an Ethereum “super cycle,” tying that view to Wall Street’s push into real-world asset tokenization and expected demand from agentic AI systems for public, neutral blockchain infrastructure.