BitMine Immersion Technologies has reported the acquisition of 111,942 ETH (approximately $232 million at the time of writing). This transaction marks the company's largest deal for 2026.
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ā Bitmine (NYSE-BMNR) $ETH (@BitMNR) May 26, 2026
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BitMine provided its latest holdings update for May 26, 2026
$12.3 billion in total crypto + "moonshots":
- 5,390,404 ETH at $2,134 per ETH (@coinbase)
- 202 Bitcoin (BTC)
- $200 million stake in Beast Industriesā¦
As of May 25, the company's reserves exceeded 5.39 million ETH, accounting for about 4.47% of the total supply of the coin.
BitMine estimates its total crypto assets, cash, and venture investments at $12.3 billion, which includes 202 BTC.
Chairman Tom Lee described the drop in ETH below $2,200 as an "attractive opportunity" to increase their position. He reiterated the approach of a "supercycle" in the crypto market and Ethereum.
Among the drivers, Lee pointed to the tokenization of assets on Wall Street and the development of autonomous AI agents.
Effective Management
BitMine is not only accumulating Ethereum but also staking assets. The company has locked up a significant portion of its reserves in the second-largest cryptocurrency, currently around 4.71 million ETH.
According to the firm's calculations, the potential annual revenue from staking could reach $276 million, with a yield of 2.75% over the past seven days. This forecast comes with a caveat regarding risks and uncertainties.
Source: X.The company confirmed its goal to increase its Ethereum holdings to 5% of the total supply. To achieve this, BitMine needs to acquire approximately 644,596 more ETH.
It is worth noting that in May, the co-founder of Bankless sold part of his Ethereum portfolio, expressing doubts about the asset's overvaluation.