Ethereum

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Spring

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Tom Lee

<p><strong>BitMine</strong> Immersion Technologies bought another 52,203 <strong>Ethereum</strong><a href="https://yellow.com/asset/eth" rel="noopener noreferrer nofollow">(ETH)</a> tokens worth roughly $92 million last week, lifting its <a href="https://yellow.com/press-releases/bitmine-reports-5-67m-eth-holdings-total-assets-reach-10-7b" rel="noopener noreferrer nofollow">holdings to 4.7%</a> of the cryptocurrency's circulating supply.</p><blockquote><h2 id="key-points">Key Points:</h2><ul><li>BitMine added 52,203 ETH worth about $92 million, reaching 4.7% of Ethereum's supply.</li><li>The firm now sits 94% of the way toward its target of owning 5% of circulating ETH.</li><li>Total crypto and cash holdings climbed to $10.7 billion as of Jun. 21.</li></ul></blockquote><h2 id="bitmine-expands-ethereum-treasury">BitMine Expands Ethereum Treasury</h2><p>The company <a href="https://www.prnewswire.com/apac/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-5-67-million-tokens-and-total-crypto-and-total-cash-holdings-of-10-7-billion-302806056.html" rel="noopener noreferrer nofollow">disclosed</a> the purchase in a corporate filing, bringing its total to 5,672,956 tokens worth close to $10 billion. Cash and marketable securities stood at $601 million, alongside 205 <strong>Bitcoin</strong><a href="https://yellow.com/asset/btc" rel="noopener noreferrer nofollow">(BTC)</a>.</p><p>The haul keeps it the largest corporate holder of Ether and the second-biggest crypto treasury anywhere, behind only <strong>Strategy</strong>.</p><p>The buy trailed the prior week's 76,881 ETH, yet it kept the company on a steady path toward owning 5% of the supply, a target it has now reached 94% of the way to.</p><p>The firm <a href="https://www.tipranks.com/news/company-announcements/bitmine-immersion-raises-capital-with-preferred-stock-offering" rel="noopener noreferrer nofollow">raised</a> about $274 million through a preferred share sale on Jun. 10, listing the dividend-paying stock on the New York Stock Exchange. The 9.5% shares pay weekly dividends of about 18 cents. Those payments run through late August, and the company expects staking income to cover them.</p><p><strong>Also Read:</strong><a href="https://yellow.com/news/ethereum-bears-85m-shorts-rebound" rel="noopener noreferrer nofollow">Ethereum Bears Load Up $85M In Shorts As Traders Chase A Rebound</a></p><h2 id="tom-lee-eyes-crypto-spring">Tom Lee Eyes Crypto Spring</h2><p>Chairman <strong>Tom Lee</strong><a href="https://www.coindesk.com/business/2026/06/22/bitmine-added-usd92-million-of-eth-with-tom-lee-continuing-to-believe-in-crypto-spring" rel="noopener noreferrer nofollow">reaffirmed</a> his belief that the market sits in the early stages of a crypto spring, saying the "best years for crypto remain ahead." He pointed to tokenization and artificial intelligence as forces that will keep lifting demand for blockchains.</p><p>The firm now <a href="https://www.tradingview.com/news/chainwire:919c1fa7c094b:0-bitmine-reports-5-67m-eth-holdings-total-assets-reach-10-7b/" rel="noopener noreferrer nofollow">stakes</a> more than 4.7 million ETH, over 83% of its pile, through its own Made-in-America validator network. That operation earns a 2.73% annualized yield. It projects revenue near $223 million now, with room to reach $268 million once the full treasury is staked.</p><h2 id="ethereum-price-pullback">Ethereum Price Pullback</h2><p>Ether changed hands near $1,733 on Monday, while BMNR shares <a href="https://www.investing.com/news/company-news/bitmine-reports-holdings-of-567-million-eth-tokens-93CH-4752721" rel="noopener noreferrer nofollow">popped</a> as much as 6% in early trading before paring gains, in one of the most actively traded names on the US market.</p><p>The token has struggled for months, dropping below $2,000 in late March and sliding further since. It now sits roughly 64% under its August record of $4,946. BMNR has fared worse, trading near $16 and about 90% below its 52-week high of $161.</p><p><strong>Read Next:</strong><a href="https://yellow.com/news/strategy-bitcoin-machine-850k-btc" rel="noopener noreferrer nofollow">Strategy's Bitcoin Machine Keeps Running As Treasury Nears 850K BTC</a></p>

BitMine Buys Another $92M In ETH As Its 5% Supply Bet Comes Into View

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