Finance
What to know:
- Our protagonist, Bitmine Immersion, with a voracity that would make a giant blush, devoured a staggering 111,942 pieces of ether last week-a feast not seen since the merry month of December-thus swelling its already obese coffers to nearly 5.4 million tokens.
- Enter Tom Lee, the ever-optimistic chairman, who declares that despite his earlier vows to slow the feast (oh, the fickleness of men!), they are now accelerating their purchases to snatch up ether while it lies prostrate below $2,200. He boldly predicts that by the waning days of 2026, they shall corner a full 5% of the ether supply, as if it were a mere trifle!
- And what of their treasury? Why, it groans under the weight of $12.3 billion in crypto and cash! They have staked more than 4.7 million ETH-about 87% of their hoard-which generously yields a yearly stipend of $276 million, enough to make even a king envious.
Behold, dear public, the latest antics of Bitmine Immersion, that mighty Ethereum treasury under the command of the illustrious Tom Lee! Once more they have ramped up their purchases, achieving their greatest haul since the festive season of December.
On Monday, the company announced the acquisition of 111,942 ether, valued at a cool $237 million. This brings their total stash to nearly 5.4 million ETH, which constitutes a not-so-modest 4.47% of all circulating Ethereum. One might say they are collecting these digital coins like a child with marbles-only these marbles cost a fortune!
This surge in buying comes as a delightful twist after Mr. Lee himself, just last month at the Consensus 2026 conference in sunny Miami, proclaimed that the firm would slow its weekly accumulation. But lo! The price of ETH took a tumble from $2,400 down to around $2,100, and suddenly the siren song of a bargain became too hard to resist. Thus, the plan changed faster than a chameleon on a rainbow.
“We continue to steadily acquire ETH,” Lee stated with a straight face. “We view the recent pullback of ETH to below $2,200 as an attractive opportunity.” One can almost hear the barely suppressed glee in his voice, as if he’d just found a goldmine in his backyard.
He further confided that they expect to achieve their ambitious goal of controlling 5% of the ether supply by the end of 2026. A bold prediction, indeed, but then again, ambition is the food of fools-and perhaps of financiers too.
All told, Bitmine’s treasure chest now holds $12.3 billion in crypto and cash. That includes a modest 203 bitcoin, $444 million in cold hard cash (or its digital equivalent), and equity stakes in such enterprises as Beast Industries and Eightco Holdings. Because why diversify when you can drown in liquidity?
Moreover, they have staked over 4.7 million ETH-about 87% of their holdings-which nets them a juicy $276 million per year in staking revenue. That’s enough to keep even the most extravagant playwright in style for a lifetime.
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2026-05-26 16:38