Bitmine Immersion Technologies increased its ether treasury to 5.62 million ETH tokens, giving it control of 4.66% of the world's second-largest cryptocurrency, the company said Monday.
At $1,718 per ETH, the Ethereum treasury is worth roughly $9.66 billion, positioning Bitmine as the largest corporate ether holder globally and the second-largest corporate crypto treasury overall, trailing only Strategy's $54 billion bitcoin position, according to a statement.
The latest figure marks an increase of 76,881 ETH over the prior week and places Bitmine 93% of the way toward its stated "alchemy of 5%" target, representing 5% of ether's 120.7 million-token supply.
Chairman Tom Lee said the company is maintaining an elevated pace of buying, arguing the recent pullback in (ETH) prices does not reflect stronger fundamentals for the network.
"This is not surprising given we believe we are in the early stages of crypto spring," Lee said, adding that "Bitmine is expected to reach the 'alchemy of 5%' sometime in 2026."
Ether traded at $1,765 on Monday, up 5.87% over the prior 24 hours, according to The Block's ETH price page. The asset trades 64.3% below its all-time high of $4,946.05, set in August 2025.
Bitmine said 4,718,677 ETH, or more than 83% of its total holdings, is currently staked. According to the company, staking operations are running at a 2.79% 7-day yield, with annualized staking revenue projected at about $219 million, rising to roughly $269 million at scale through its MAVAN validator infrastructure.
Beyond ether, Bitmine reported holdings of 204 bitcoin, a $180 million stake in Beast Industries, an $88 million stake in Eightco Holdings, and total cash and marketable securities of $502 million.
Bitmine shares (BMNR) closed Friday's session at $16.11, down 2.48% on the day, according to The Block'sprice page.
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