- 5M Ethereum worth (4.21% of circulating supply) $11.6 B now held by Tom Lee’s BitMine, after a $232M weekly buy spree.
- Positions BitMine as top public ETH treasury, citing wartime outperformance vs S&P 500; nears 5% supply goal for scarcity floor.
- Added $214M to MAVAN validators (3.7M ETH staked, $264M annual revenue), eyeing $363M once fully deployed.
BitMine Immersion Technologies, led by Chairman Tom Lee, recently added more ETH to its Ethereum treasury which has surpassed the 5 million ETH threshold. Following a massive capital deployment over the last seven days, the firm now holds approximately 4.21% of the entire circulating Ethereum supply. This milestone represents a significant step in Lee’s “Alchemy of 5%” strategy, positioning BitMine as the world’s largest publicly traded Ethereum treasury holder.
Supply Dominance and the ‘Alchemy of 5%’
The surge to 5 million tokens was fueled by an aggressive accumulation phase in the final week of April 2026. BitMine acquired approximately $232.13 million worth of ETH in the past week alone, marking one of its highest weekly purchase volumes since December ...
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