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Bitmine Stuns Market With Largest Ethereum Buy Of 2026 As Tom Lee Turns Bullish

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Bitmine Immersion Technologies has staked roughly $4.7 million value of Ether from its holdings, with the corporate projecting annualized staking revenues of $276 million — a yield technique that units it other than companies that merely maintain crypto on their books.

The Staking Angle

That income push comes alongside Bitmine’s biggest single purchase of the 12 months. The firm acquired 111,942 ETH final week, stepping in after costs slid beneath $2,200, a stage Chairman Tom Lee described as a lovely shopping for alternative.

Ether has been buying and selling between roughly $2,025 and $2,147 over the previous seven days.

Lee tied the purchase to a broader outlook he has been pushing for months. He believes a crypto supercycle is coming, pushed by Wall Street’s rising curiosity in tokenization and the rise of AI-powered brokers.

“We proceed to steadily purchase ETH, with Bitmine now proudly owning practically 5.4 million ETH tokens,” Lee mentioned in an announcement.

A Target Still Within Reach

Bitmine’s purpose is to personal 5% of Ether’s circulating provide, which at present stands at 120.7 million tokens. To get there, the corporate nonetheless wants round 644,596 ETH — a niche Lee mentioned shall be closed someday this 12 months.

The agency had slowed its shopping for tempo earlier in May after snapping up greater than 100,000 ETH per week for 3 straight weeks earlier than resuming with this newest buy.

Bitmine follows a mannequin much like Strategy, the Bitcoin treasury firm led by Michael Saylor, which has constructed its enterprise round accumulating crypto no matter market situations.

Ether hit an all-time high of $4,946 in August 2025 however has dropped greater than 58% since then. Lee has beforehand argued that steep pullbacks in ETH costs signify shopping for alternatives reasonably than warning indicators.

Staking Pressure Builds Across Industry

Reports from staking infrastructure supplier Everstake say ETH treasury firms are beneath mounting stress to generate revenue by way of staking and different yield strategies.

The attraction of merely holding Ether as a public firm has been dulled by the rising recognition of spot crypto exchange-traded funds, stories say.

Staked provide has hit a contemporary document. Data exhibits greater than 39 million ETH — roughly 32% of whole provide — is at present locked in, with one other 3.3 million ready within the entry queue.

About 234,368 ETH is sitting within the exit queue.

Featured picture from Unsplash, chart from TradingView

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