Bitmine Immersion (NYSE:BMNR) bought 76,881 Ethereum (CRYPTO: ETH) last week, bringing total holdings to 5.62 million ETH as BMNR jumped 6% in pre-market Monday.
Buying Pace Stays Elevated As Bitmine Closes In On 5% ETH Supply Goal
Bitmine now holds 4.66% of Ethereum’s total supply of 120.7 million coins, putting the company 93% of the way to its stated goal of owning 5%.
Chairman Tom Lee said the company is maintaining an elevated buying pace because the ETH price pullback does not reflect strengthening Ethereum fundamentals.
“We believe we are in the early stages of crypto spring,” Lee stated. “Bitmine is expected to reach the alchemy of 5% sometime in 2026,” he added.
Total crypto, cash, marketable securities, and moonshot holdings now stand at …