Tom Lee’s Bitmine Adds 26,497 ETH as Holdings Near 5% Goal

Highlights:

• Tom Lee’s Bitmine has lifted ETH holdings to 5.42 million tokens after buying 26,497 ETH.
• Bitmine has staked 4.72 million ETH, creating projected annualized staking revenue near $258 million.
• BMNR shares slipped to $19 as Ethereum weakness weighed on treasury-linked trading.

Bitmine Immersion Technologies bought 26,497 ETH over the past week, adding about $52 million to its treasury. The company’s total Ethereum holdings have risen to 5,416,901 ETH. According to the press release, the amount now equals 4.49% of Ethereum’s 120.7 million token supply. As a result, the firm now sits close to its long-stated goal of holding 5% of all ETH.

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Chairman Thomas “Tom” Lee said the company expects to reach that mark sometime in 2026. He also said ETH prices still do not reflect stronger Ethereum fundamentals. Meanwhile, the company’s crypto, cash, and “moonshots” holdings stood at $11.6 billion as of May 31. The figure included ETH, Bitcoin, cash, and two equity stakes.

Tom Lee’s Bitmine Moves Closer to Its ETH Supply Target

Bitmine said its treasury includes 203 bitcoin, $446 million in cash, a $180 million stake in Beast Industries, and a $93 million stake in Eightco Holdings. However, Ethereum remains the center of its balance sheet strategy. The latest update shows the company continues to buy while ETH trades below earlier highs.

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BitMine provided its latest holdings update for May 26, 2026
$12.3 billion in total crypto + "moonshots":
– 5,416,901 ETH at $2,003 per ETH per ETH (per @coinbase)
– 203 Bitcoin (BTC)
– $200 million stake in Beast…

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) June 1, 2026

The company said it remains the largest Ethereum treasury and the second-largest crypto treasury overall, behind Strategy. Bitmine added that its progress toward the “Alchemy of 5%” target has taken only 11 months. Moreover, the company linked Ethereum’s long-term case to two trends. It pointed to Wall Street tokenization and rising demand from agentic AI systems that need public, neutral blockchains.

Staking Income Now Supports the Broader Treasury Plan

Bitmine has also leaned heavily on staking to generate income from its ETH reserve. The company said it has staked 4,718,677 ETH, valued at about $9.5 billion using an ETH price of $2,003. This amount represents more than 87% of its total Ethereum holdings. As a result, the treasury strategy now depends on both asset appreciation and staking rewards.

Lee said annualized staking revenue now stands at about $258 million. He added that projected rewards could reach $296 million a year at scale. The estimate assumes Bitmine fully stakes its ETH through MAVAN and partner platforms. Moreover, the company said its own staking operations generated a seven-day annualized yield of 2.73%.

Bitmine built MAVAN, or the Made in America VAlidator Network, to support its Ethereum treasury. However, the company now plans to use the platform more broadly over time. It said MAVAN aims to serve institutional investors, custodians, and ecosystem partners that want secure staking infrastructure. Therefore, the platform could become a wider part of Bitmine’s long-term growth plan.

BMNR Shares Weaken as the Treasury Keeps Getting Larger

BMNR stock fell even after the company disclosed the latest ETH purchase. BMNR is trading at $19 at the market open, down more than 0.13%, according to Google Finance data. Over the last five days, the stock has also moved lower alongside Ethereum. 

Bitmine noted that BMNR remains one of the most actively traded U.S. stocks by dollar volume. It placed the stock at 225th in the market, with an average daily trading volume of $628 million over four days. Tom Lee’s Bitmine said that liquidity supports its ability to raise crypto NAV per share.

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