The company bought 111,942 ether last week worth $237 million, ramping up purchases to take advantage of ETH's drop below $2,200.
What to know : Bitmine Immersion bought 111,942 ether (ETH) last week, its largest purchase since December, bringing its holdings to nearly 5.4 million tokens. Chairman Tom Lee said the firm is accelerating purchases to take advantage of ether’s pullback below $2,200 and expects to reach its goal of controlling 5% of the supply later in 2026. Bitmine now holds $12.3 billion in crypto and cash, has staked more than 4.7 million ETH, and is generating roughly $276 million in annualized staking revenue.