Bitmine Immersion (BMNR), the Ethereum treasury company led by Chairman Tom Lee, ramped up buying again, making its biggest haul since December.
The company said on Monday that it purchased 111,942 ether (ETH) last week, worth around $237 million at current prices. That brought the company’s holdings to nearly 5.4 million ETH, roughly 4.47% of Ethereum’s circulating supply.
The purchase marks a renewed acceleration in Bitmine’s buying pace after Lee said in early May at Consensus 2026 in Miami that the company planned to slow weekly accumulation. The change came as the company aims to take advantage of ETH’s decline from $2,400 in early May and April to around $2,100.
“We continue to steadily acquire ETH,” Lee said in the statement. “We view ETH’s recent pullback below $2,200 as an attractive opportunity.”
Lee added that the company is expected to reach its goal of capturing 5% of the ether supply by the end of 2026.
According to the report, Bitmine’s total cryptocurrency and cash holdings amount to $12.3 billion. The company also owns 203 bitcoins, $444 million in cash and equity stakes, including investments in Beast Industries and Eightco Holdings.
The company said it has staked more than 4.7 million ETH (about 87% of its holdings), generating approximately $276 million in annualized staking revenue.
