Bitmine Immersion Buys 111,900 ETH in Biggest Purchase Since Dec. 2024

Bitmine Immersion said it bought 111,900 ETH last week, its largest single acquisition since December 2024, lifting total ether holdings to nearly 5.4 million ETH. Chairman Tom Lee said the company is stepping up purchases to take advantage of prices below $2,200 and is targeting control of 5% of total ETH supply by the end of 2026. Bitmine said it holds $12.3 billion in cryptocurrencies and cash. More than 4.7 million ETH are currently staked, generating estimated annualized staking income of about $276 million.