Bitmine now largest Ethereum holder with 5.67M ETH

Bitmine Immersion Technologies, a publicly traded cryptocurrency treasury firm, has significantly expanded its holdings of Ethereum, solidifying its position as the world's largest corporate holder of the asset. The company announced on Monday, June 22, 2026, that it purchased an additional 52,203 ETH last week, an investment worth approximately $92 million at current prices. This acquisition brings Bitmine's total Ethereum stash to 5.67 million tokens, representing about 4.7% of the cryptocurrency's total circulating supply and valued at nearly $10 billion.

The purchase advances the company toward its stated goal of controlling 5% of Ethereum's supply, a target it is now 94% of the way toward reaching. Chairman Tom Lee stated the company maintains a steady pace of accumulation throughout 2026, describing the current market phase as the "early stages of crypto spring." He reiterated a bullish long-term outlook, arguing that exponential demand growth for blockchain technology will be driven by tokenization and artificial intelligence.

This aggressive accumulation strategy comes despite Bitmine's massive unrealized loss on its Ethereum position. The company's average cost basis...