Tom Lee Backs Ethereum Supercycle as Bitmine ETH Holdings Reach 5.39M

Bitmine Immersion Technologies reports total crypto, cash, and moonshot holdings of $12.3 billion, including 5,390,404 ETH valued at $2,134 per token, 203 bitcoin, and $444 million in cash. Its ether position equals 4.47% of Ethereum’s 120.7 million coin supply, placing it about 89% of the way toward a 5% target associated with Tom Lee. Bitmine added 111,942 ETH over the past week and expects to reach the threshold sometime in 2026. The company has 4,712,917 ETH staked, representing more than 87% of its holdings, generating $276 million in annualized staking revenue based on a 2.75% seven-day annualized yield. Bitmine plans to expand MAVAN, an institutional-grade staking platform, to institutional investors, custodians, and ecosystem partners, and it uplisted to the NYSE effective April 9, 2026.

"Bitmine Immersion Technologies disclosed that its total crypto, cash and moonshot holdings have climbed to $12.3 billion, as the company continues to build one of the largest public-market ethereum treasuries. As of May 25, BitMine held 5,390,404 ETH, valued at $2,134 per token, along with 203 bitcoin and $444 million in cash. The company said its ether position represents 4.47% of ethereum's total supply of 120.7 million coins."

"That puts Bitmine about 89% of the way toward what Chairman Tom Lee has called the company's Alchemy of 5% target. Lee said Bitmine added 111,942 ETH over the past week and expects to reach the 5% threshold sometime in 2026. We continue to expect a supercycle ahead for crypto and ethereum, Lee remarked, pointing to Wall Street tokenization and agentic AI as long-term drivers for demand on public, neutral blockchains."

"Bitmine is also leaning harder into staking with 4,712,917 ETH, worth about $10.1 billion currently staked. That represents more than 87% of its total ETH holdings. The company's staking push is tied to MAVAN, the Made in America Validator Network. BitMine describes MAVAN as an institutional-grade staking platform built for security, performance, and resilience. It was first developed for the company's own treasury, but Bitmine plans to expand access to institutional investors, custodians, and ecosystem partners."

"Lee said Bitmine's annualized staking revenue has reached $276 million, based on a 2.75% seven-day annualized BMNR yield. The company recently moved its listing to the New York Stock Exchange from NYSE American. The uplisting took effect on April 9, 2026, with Bitmine continuing to trade under the ticker BMNR."

Read at news.bitcoin.com