Lookonchain
Bitmine Immersion Technologies, the Ethereum treasury company chaired by Tom Lee, added 71,672 ETH — worth roughly $153.66M — over the past week, bringing its total holdings to 5,278,462 ETH valued at $11.32B.
Of that, 4,712,917 ETH ($10.1B) is already staked, meaning 89.29% of the treasury is generating yield rather than sitting idle. Bitmine now owns more than 4.37% of the total 120.7M ETH supply and is 87% of the way to its stated 'Alchemy of 5%' target — reached in just 11 months.
Why it matters
The scale here reframes what 'corporate ETH treasury' means. A single public-company vehicle now holds north of 4% of an asset whose circulating supply is fixed, with the overwhelming majority locked in staking validators. That compresses effective float and aligns Bitmine's economics directly with staking yield, not just spot price.
It also signals where institutional ETH exposure is migrating: not into spot ETFs alone, but into treasury vehicles that compound the underlying asset. For a market still building out its institutional plumbing, that distinction matters — it points to a longer-duration, less reactive holder base.
Market impact
Bitmine's reported total crypto and cash holdings stand at $12.6B. The pace of accumulation — 71K ETH in a single week — sets a benchmark for what a structurally motivated buyer looks like in this cycle. Watch the staking ratio: every incremental point above 89% is ETH removed from liquid supply and committed to validator duties, a setup the broader market has rarely had to price at this concentration.
Frequently asked questions
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How much ETH does Bitmine hold as of this update?
Bitmine Immersion Technologies holds 5,278,462 ETH, valued at $11.32B, after adding 71,672 ETH ($153.66M) over the past week. Total crypto and cash holdings stand at $12.6B per the company's release.
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What percentage of Bitmine's ETH is staked?
Bitmine has staked 4,712,917 ETH — 89.29% of its total holdings, worth approximately $10.1B at current prices. The ratio means nearly nine-tenths of the treasury is generating staking yield rather than sitting idle.
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How much of all ETH does Bitmine own?
Bitmine now holds more than 4.37% of the total ETH supply of 120.7 million tokens. The company says it is 87% of the way to its 'Alchemy of 5%' target, reached in just 11 months.
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Who chairs Bitmine and what is its strategy?
Bitmine Immersion Technologies (BMNR) is chaired by Tom Lee of Fundstrat. It operates as a corporate Ethereum treasury company, accumulating ETH and staking the majority of holdings to compound exposure to the underlying asset.
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Why does Bitmine's staking ratio matter for ETH's market?
With 89% of Bitmine's 5.28M ETH locked in validators, a meaningful slice of the asset's effective float is removed from spot liquidity. The higher the staking ratio climbs, the less ETH is available for trading, which tightens supply in a way passive treasury accumulation rarely does at this concentration.
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