Bitmine Immersion just raised the stakes in crypto treasury warfare. In one of its largest single-week purchases to date, the company snapped up 35,268 ETH worth $108.7 million, pushing its total Ethereum holdings to an astonishing 4,203,036 ETH.
Based on current spot valuations near $3,085, Bitmine’s crypto stash now clocks in at $12.96 billion in Ethereum alone.
This is so impressive that may seem delusional given that the price of ETH has been dropping hard in the last 24 hours, even breaking below the $3,000 mark as markets continue to react to the Greenland situation.
The firm’s combined digital and cash reserves are valued at over $14.5 billion, including $979 million in cash and $22 million in high-risk investments like Eightco Holdings.
At the same time, Bitcoin remains a sideshow in Bitmine’s strategy, with just 193 BTC on the books — less than 0.2% of total holdings. It is ironic, considering that Bitmine's boss Tom Lee is primarily known for his bullish stance toward Bitcoin.
Alchemy of 5%
Amid all this, Less revealed that Bitmine has reached 74% of its “alchemy of 5%” target, a cryptic benchmark popularized by Mr. Chairman that blends ETH dominance, strategic allocation and elusive alpha into a single treasury ratio.
Based on their internal trajectory, Bitmine will soon cross the six million ETH mark.
Whether this accumulation spree is timed to front-run the next institutional ETH rotation or to solidify its position as the most unapologetic Ethereum maximalist, the message is undeniable: while others hedge, Bitmine doubles down.
Gamza Khanzadaev
Tomiwabold Olajide
Godfrey Benjamin
Alex Dovbnya
