Bitmine Immersion Technologies, chaired by Tom Lee, continues to deepen its commitment to the Ethereum cryptocurrency, Ether (ETH).
According to data from Arkham Explorer, the company purchased an additional 67,111 ETH (worth approximately $144.8 million) through the Kraken Exchange yesterday, Tuesday, March 24, 2026. The purchases are believed to have been made through two addresses linked to the company.
The latest figures officially reported by the company show that Bitmine holds 4,660,903 ETH, which is 3.86% of the circulating supply of the cryptocurrency Ethereum. However, this data does not yet include the most recent purchases. Therefore, if the company breaks the record, its current holdings will be even higher (4,728,014 million).
Bitmine is already the listed company that holds the most ETH. One down is SharpLink Gaming with 863,021 ETH and The Ether Machine with around 496,712 coins.
This new move confirms that Bitmine shows no signs of slowing down on its accumulation strategy. In fact, the company itself reported on Monday that it has purchased 65,341 ETH since its last update, as reported by CriptoNoticias.
In this way, the company continues to move towards its goal of acquiring 5% of the total ETH supply. This goal is equivalent to approximately 6 million coins. That means, based on the latest official numbers reported by the company, it would need to add nearly 1.4 million more ETH to reach that goal.
In this regard, Tom Lee, president of Bitmine and founder of Fundstrat, justified this policy with a bullish medium-term vision for digital assets. “Bitmine has maintained an increasing pace of ETH purchases over the past three weeks as the fundamental scenario is that ETH is in the final stages of a mini-crypto winter,” he said in a statement released by the company.
bitmine strategy This occurred while ETH was trading well below its all-time high (ATH) price.
At the time of publication of this note, ETH is trading at $2,177, 56% below its peak of $4,900 recorded in August 2025..
This distance from the previous cap appears to be exactly part of the company’s investment thesis. In other words, it accumulates while the asset is still at a lower level than its peak.
Although Bitmine continues to grow its ETH reserves, the market has not responded to its actions with the same enthusiasm.
The company’s stock is ticker BMNR fell 2.21% on Tuesday to close at $21.19. The stock subsequently rebounded by 1.88% in post-close trading.
However, as seen in the graph, the performance remains poor. Over the past six months, the company’s stock price has fallen cumulatively by nearly 59%.
This contrast shows that Bitmine’s aggressive Ether accumulation has not yet led to a sustained improvement in the market’s perception of the company.
Still, the company seems determined to maintain its roadmap and strengthen its strategy to become the largest known holder of ETH.
(Tag translation) Altcoin
