Bitmine nears 5% Ethereum ownership target

• Bitmine increased its Ether holdings to 5.77 million tokens, equal to 4.8% of the total supply.
• The company said it is now 96% of the way to its goal of owning 5% of all Ether.
• Chair Tom Lee said growing blockchain activity could increase demand for Ether.

Bitmine Immersion Technologies increased its Ether (CRYPTO:ETH) holdings to 5.77 million tokens, equal to 4.8% of Ethereum's circulating supply.

The company added 27,801 ETH during the past week and now holds about US$11.3 billion in crypto, cash and other investments.

"Robinhood's 27 million users are paying crypto fees denominated in ETH," Bitmine chair Tom Lee said.

Bitmine said 4.92 million ETH is now staked through its MAVAN validator network, with projected annual staking revenue of about US$242 million.

The company said it remains focused on reaching its target of owning 5% of Ethereum's total supply.

Lee said the recent launch of Robinhood Chain could support Ethereum because the network uses ETH to pay transaction fees.

Bitmine has expanded its Ether treasury throughout 2026 and remains one of the largest corporate holders of Ethereum.

At the time of reporting, Ethereum price was $1,789.64.