worldcoinindex.com
Bitmine Immersion, the largest publicly traded corporate holder of ether, has scaled back the pace of its $ETH acquisitions after an aggressive accumulation streak earlier this year. The company disclosed that it purchased 26,497 $ETH during the past week, adding roughly $53 million worth of the cryptocurrency to its balance sheet.
Following the latest purchase, Bitmine's ether reserves have climbed to nearly 5.42 million $ETH, representing approximately 4.49% of the cryptocurrency’s circulating supply. The firm remains within striking distance of its long-term objective of controlling 5% of all ether in circulation.
The slower accumulation rate follows comments from Bitmine Chairman Tom Lee, who previously indicated that the company would gradually ease its buying activity as it approached its ownership target. Despite the moderation, Bitmine continues to expand its digital asset holdings at a time when several major treasury-focused firms have become more cautious.
Since the beginning of 2026, Bitmine has accumulated more than 1 million $ETH, cementing its position as one of the most influential corporate participants in the Ethereum ecosystem. Lee maintains that the market has yet to fully recognize Ethereum’s improving fundamentals, suggesting that the broader crypto sector remains in the early stages of a renewed growth cycle.
As of May 31, Bitmine reported total crypto and cash holdings valued at approximately $11.6 billion. Alongside its substantial ether treasury, the company also holds bitcoin, significant cash reserves, and strategic equity investments.
Beyond asset accumulation, Bitmine has increasingly emphasized yield generation through staking. The company estimates that its staking operations are producing annualized revenue of roughly $258 million, with projected rewards expected to approach $300 million per year through its MAVAN staking platform. This strategy allows Bitmine to generate ongoing income while maintaining one of the largest Ethereum treasuries in the public markets.