Tom Lee says ‘best years for crypto remain ahead’ as Bitmine buys another 52,203 ETH
Quick Take
- Bitmine said it acquired 52,203 ETH over the past week, bringing total holdings to 5.67 million ETH tokens as of June 14.
- “The best years for crypto remain ahead, in our view,” Bitminer Chairman Tom Lee said.
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Bitmine Immersion Technologies (NYSE: BMNR) increased its ether treasury to 5.67 million ETH tokens, giving it control of 4.7% of the world's second-largest cryptocurrency, the company said Monday.
At $1,733 per ETH, the Ethereum treasury is worth roughly $9.8 billion, positioning Bitmine as the largest corporate ether holder globally and the second-largest corporate crypto treasury overall, trailing only Strategy Inc.'s $54 billion bitcoin position, according to a statement.
The company's total crypto assets, cash, marketable securities and strategic investments, which the firm refers to as "moonshots," like its partnership with Beast Industries, reached $10.7 billion as of June 21.
The latest figure marks an increase of 52,203 ETH over the prior week and places Bitmine 94% of the way toward its stated "alchemy of 5%" target, representing 5% of ether's 120.7 million-token supply.
Chairman Tom Lee said the company continues to maintain a steady pace of accumulation throughout 2026, adding that "we are in the early stages of crypto spring."
“The best years for crypto remain ahead, in our view,” Lee said. “Tokenization and the rapid progress in AI are expected to drive exponential demand growth for blockchain and decentralized crypto.”
Ether traded at $1,763 on Monday, up 2.26% over the prior 24 hours, according to The Block's ETH price page. The asset trades roughly 64% below its all-time high of $4,946.05, set in August 2025.
Bitmine said 4,718,677 ETH, or more than 83% of its total holdings, is currently staked. According to the company, staking operations are running at a 2.73% seven-day yield, with annualized staking revenue projected at about $223 million, rising to roughly $268 million at scale through its MAVAN validator infrastructure.
Beyond ether, Bitmine reported holdings of 205 bitcoin, a $180 million stake in Beast Industries, a $104 million stake in Eightco Holdings, and total cash and marketable securities of $601 million.
Bitmine shares closed Friday's session at $16.14, up 2.8% on the day, according to The Block's BMNR price page.
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