BitMine Immersion adds 10,399 ETH to its growing Ethereum treasury

BitMine Immersion Technologies just scooped up another 10,399 ETH, adding to what has quietly become one of the most aggressive corporate crypto accumulation strategies in the market. The NYSE-listed company, trading under ticker BMNR, has been on a methodical buying spree since launching its Ethereum treasury strategy on June 30, 2025. The purchase is the latest in a series of weekly acquisitions that have pushed BitMine’s total holdings past 5.79 million ETH, roughly 4.8% of Ethereum’s entire circulating supply. The Alchemy of 5% BitMine calls its approach the “Alchemy of 5%,” a systematic campaign to accumulate 5% of all Ethereum in circulation. Prior weekly purchases include batches of 9,946 ETH, 27,801 ETH, and 35,138 ETH. Tom Lee, the Fundstrat co-founder who serves as chairman, has been the driving force behind the treasury strategy. To fund the buying spree, BitMine raised $274 million through preferred stock offerings in early June 2026 specifically to have capital for buying more Ethereum. Staking as revenue engine The company has staked over 4.9 million of its ETH holdings on its proprietary MAVAN platform, generating projected staking rewards in the hundreds of millions...