Bitmine adds $75 million of ETH as chairman says institutions remain under‑exposed

Bitmine Immersion Technologies, the largest Ethereum‑focused treasury firm, bought 27,562 ether last week at a price of $2,732.93 per ETH. The purchase, valued at approximately $75.2 million, raises the company’s total ETH holdings to 5,983,940, or about 4.9 % of the token’s circulating supply.

Ongoing accumulation strategy

Bitmine has been acquiring ether weekly since June 2025, when it shifted to a crypto‑treasury model. At the current pace, the firm could reach its target of owning roughly 5 % of total ETH supply within the next few months.

Staking and revenue outlook

About 85 % of Bitmine’s ETH, roughly 5 million tokens, is staked. The company projects annual staking revenue of around $357 million based on prevailing yields.

Institutional sentiment

Chairman Tom Lee noted that institutional investors remain “underweighted” in crypto assets. He expects a catch‑up period in the last three months of 2026, citing the strong third‑quarter performance of ETH—up 76 % since June—compared with a modest 2 % gain in the S&P 500.

Lee also highlighted longer‑term drivers such as tokenization and the integration of blockchain technology in artificial‑intelligence applications, which could further boost institutional exposure.