Tom Lee’s BitMine Nears 5% ETH Goal With Another 60,999 ETH Buy

Highlights:

• Tom Lee’s BitMine adds nearly 61,000 ETH to its holdings.
• BitMine has staked 3.04M ETH, generating $180M in annual revenue.
• The firm now controls 3.81% of Ethereum’s supply.

Bitmine Immersion Technologies, the largest Ethereum treasury firm, kept buying Ethereum last week. The firm bought 60,999 tokens, propelling its total Ethereum holdings to 4,595,562 ETH, worth approximately $10 billion. This marks 3.81% of the circulating supply of Ethereum, which is near its target of owning 5% of the total ETH.

Bitmine Expands Treasury Amid Global Uncertainty

BitMine’s expansion occurs against a backdrop of the ongoing rising geopolitical tensions, particularly the Iran conflict. These tensions have triggered a shift towards the digital space as investors seek safe havens. Ethereum has meaningful outperformance, as the prices have appreciated even amidst these global uncertainties.

BitMine bought 60,999 ETH in the last week, slightly higher than the 60,000 ETH it bought the previous week. The move comes at a time when the firm anticipates that Ethereum’s price is nearing the end of what it describes as a mini-crypto winter.

🚨JUST IN: BITMINE REVEALS $11.5B CRYPTO HOLDINGS WITH OVER 4.5M $ETH

Bitmine ( $BMNR ) has released its March 16 holdings update, disclosing $11.5B in total crypto and moonshot assets.

The portfolio is anchored by the following:

– 4,595,562 $ETH valued at $2,185 each
– 196… pic.twitter.com/LzNyuxupDD

— BSCN (@BSCNews) March 16, 2026

Chairman of BitMine, Tom Lee, noted that in the face of increased oil prices, Ethereum performance has exceeded the traditional equities, such as the S&P 500, by 2,450 bp. Investors are now shifting to digital assets such as Ethereum as they view it as a long-term growth stock.

Staking Strategy Generates Significant Revenue

BitMine has significantly increased its staking operations. The company has staked more than 3 million ETH, which generates an annualized staking income of $180 million. BitMine anticipates that this figure will grow to $272 million annually as Ethereum staking rewards grow.

Lee noted that staking of BitMine now yields a 2.81% annualized return, which is higher than the average staking rate of Ethereum. This staking revenue is crucial to the support of the firm’s aggressive acquisition strategy.

Meanwhile, the company is set to roll out the Made in America Validator Network (MAVAN) in 2026. MAVAN is set to become a leading staking solution that will advance the infrastructure of staking at BitMine and boost its revenue potential.

Strategic Investments in “Moonshots”

In addition to its crypto acquisitions, BitMine increased its investment in Eightco Holdings. The company invested an additional $80 million in Eightco, bringing the total investment to $83 million. Recent acquisitions made by Eightco include a $50 million investment in OpenAI and a $25 million investment in Beast Industries. The strategic step enables BitMine investors to have exposure in OpenAI’s upcoming IPO, which will further diversify the portfolio of the firm.

Alongside Ethereum, BitMine also holds a significant amount of assets in other sectors. The company has an overall portfolio of about $11.5 billion in crypto, cash, and equity investments. This consists of 196 Bitcoin, a cash reserve of $1.2 billion, and stakes in ventures such as Beast Industries and Eightco Holdings.

Meanwhile, a report by Crypto2Community shows that Bitmine directly bought 5,000 ETH from the Ethereum Foundation. According to Lee, this transaction is used to facilitate the core operations of the Foundation and avoids selling the ETH on the open market. Moreover, the firm transferred 19.5 million in ETH on March 10 to Coinbase Prime.

0/ Today, the Ethereum Foundation finalized the terms of a 5,000 ETH sale at an average price of $2,042.96 via OTC.

For this sale, our OTC counterparty was @BitMNR.

— Ethereum Foundation (@ethereumfndn) March 14, 2026