Bitmine Immersion (BMNR), the Ethereum treasury company led by Chairman Tom Lee, has ramped up its purchases again, notching its biggest haul since December.
The company announced Monday that it purchased 111,942 ether (ETH) last week, worth approximately $237 million at current prices. This brought the company’s holdings to nearly 5.4 million ETH, or approximately 4.47% of Ethereum’s circulating supply.
The purchase marks a further acceleration in Bitmine’s buying pace after Lee said earlier in May at Consensus 2026 in Miami that the company planned to slow down weekly accumulation. This change occurred as the company aims to take advantage of ETH’s decline from $2,400 in early May and April to near $2,100.
“We continue to acquire ETH on a regular basis,” Lee said in the statement. “We view ETH’s recent pullback below $2,200 as an attractive opportunity.”
Lee added that the company is expected to achieve its goal of capturing 5% of the ether supply later in 2026.
Bitmine’s total crypto and cash holdings stand at $12.3 billion, according to the report. The company also holds 203 bitcoins, $444 million in cash and stock, including investments in Beast Industries and Eightco Holdings.
The company said it has staked more than 4.7 million ETH, or approximately 87% of its holdings, generating approximately $276 million in annualized staking revenue.
