Bitmine Immersion Technologies has made a significant investment in Ethereum by staking approximately $4.7 million worth of Ether from its reserves. This strategic move is projected to yield annualized staking revenues of around $276 million, distinguishing Bitmine from other companies that merely hold cryptocurrency without actively generating returns.
The Staking Strategy
This revenue initiative coincides with Bitmine’s largest single purchase of the year. Recently, the company acquired 111,942 ETH, targeting attractive price levels after a market dip below $2,200, which Chairman Tom Lee described as an appealing buying opportunity.
Over the past week, Ether prices have fluctuated between approximately $2,025 and $2,147.
Lee sees the recent purchase as part of an optimistic outlook he has been advocating for some time. He anticipates a future crypto supercycle driven by increased interest in tokenization from Wall Street and advancements in AI technologies.
“We are consistently acquiring eth, bringing Bitmine’s total holdings to nearly 5.4 million ETH tokens,” Lee stated.
1/ BitMine reported its latest asset update on May 26, 2026:$12.3 billion in total crypto assets:
– 5,390,404 ETH at $2,134 per ETH (via @coinbase)
– 202 Bitcoin (BTC)
– $200 million stake in Beast Industries…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) May 26, 2026
Aiming for Market Presence
Bitmine aims to acquire 5% of Ethereum’s circulating supply, which currently totals around 120.7 million tokens. To achieve this target, the company needs to obtain approximately 644,596 ETH. Lee is optimistic about closing this gap within the year.
After previously intensifying its purchasing pace with significant acquisitions in May, Bitmine has resumed its buying with the latest purchase.
Bitmine employs a business model akin to that of Strategy, a Bitcoin treasury management company led by Michael Saylor, focusing on accumulating cryptocurrencies regardless of market conditions.
Despite reaching an all-time high of $4,946 in August 2025, Ether has seen a decline of more than 58% since then. Lee has stated that significant pullbacks in ETH prices provide buying opportunities rather than indicating cause for concern.
Growing Staking Trends in the Industry
According to reports from staking infrastructure provider Everstake, Ethereum treasury companies face increasing pressure to generate income through staking and other yield strategies. The traditional approach of simply holding Ether as a public entity has become less appealing amid the growing popularity of spot crypto exchange-traded funds.
The staked supply of Ether has reached a new peak, with over 39 million ETH — approximately 32% of the total supply — currently locked in staking contracts. Additionally, around 3.3 million ETH is awaiting entry into staking, while approximately 234,368 ETH is in the exit queue.
image sourced from Unsplash, chart from TradingView
