TL;DR:
- Bitmine acquired an additional 52,203 ETH last week, bringing its total holdings to 5.67 million ETH valued at nearly $10 billion.
- The company controls 4.7% of Ethereum’s supply and has already completed 94% of its goal to reach 5% of the total.
- Tom Lee reaffirmed his bullish stance and stated that tokenization and AI will drive exponential demand for the blockchain.
Bitmine purchased 52,203 Ethereum (ETH) last week for approximately $92 million, bringing its total holdings to 5.67 million ETH. With that level of accumulation, the company controls 4.7% of the circulating supply of the world’s second-largest cryptocurrency and consolidates its position as the largest corporate treasury of Ethereum on a global scale, surpassed only in general terms by Strategy Inc.’s position in Bitcoin, valued at $54 billion.
At the current price of around $1,760 per token, Bitmine’s ETH treasury is worth approximately $10 billion. Adding cash, marketable securities and strategic investments —which the firm calls “moonshots“, including its stake in Beast Industries for $180 million and in Eightco Holdings for $104 million— its total assets reach $10.7 billion.
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BitMine provided its latest holdings update for June 22, 2026$10.7 billion in total crypto + "moonshots":
– 5,672,956 ETH at $1,733per ETH per ETH (per @coinbase)
– 205 Bitcoin (BTC)
– $200 million stake in Beast Industries @MrBeast
– $104 million stake in Eightco Holdings…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) June 22, 2026
Bitmine on the Verge of the Coveted 5%
Last week’s purchase was smaller in volume than the two previous ones, but keeps the company on track with its goal of accumulating 5% of Ethereum’s total supply, set at 120.7 million tokens. According to the company, it has already completed 94% of that target.
More than 83% of its holdings, equivalent to 4.72 million ETH, is currently in staking. Bitmine’s validation infrastructure, called MAVAN, generates a weekly yield of 2.73% and projects annualized staking revenues of $223 million, with the potential to scale up to $268 million.
To sustain its accumulation strategy, Bitmine also diversified its financing structure. Earlier this month it issued Series A perpetual preferred shares at 9.50%, raising approximately $274 million through the sale of 3.5 million shares listed on the New York Stock Exchange under the ticker BMNP. These shares pay weekly cash dividends of $0.1847 per share.
Tom Lee Insists on the “Crypto Spring”
Bitmine chairman Thomas “Tom” Lee stated that the firm maintains “a steady pace of accumulation throughout 2026” and reaffirmed his long-term vision: “The best years for cryptocurrencies are still ahead.”
Lee argued that asset tokenization and the advancement of artificial intelligence will drive exponential demand for blockchain infrastructure and decentralized assets. In that context, he described the current moment as “the early stages of the crypto spring“, a recovery that began following the liquidation shock of October 2025.
