Bitmine Adds $75M in ETH as Chairman Predicts Institutional Inflows

Bitmine Immersion Technologies added 27,562 ETH to its treasury last week, a purchase valued at approximately $75.2 million based on Monday's price of $2,727. This latest move brings the firm's total holdings to 5,983,940 ETH, representing roughly 4.9% of the token's 122.1 million supply.

The company has maintained a consistent buying schedule since pivoting to a crypto treasury strategy in June 2025. Bitmine currently stakes about 5 million ETH, or 85% of its total holdings, with projected annual staking revenue of approximately $357 million at current yields.

Following the news, Bitmine shares rose 5.8% in pre-market trading, building on an 8% rally from Friday. The price action coincides with ETH reaching its highest level since late January.

Chairman Tom Lee suggested that institutional investors remain underweighted in crypto, noting that many fund managers prioritized AI-linked stocks earlier in 2026. However, Lee expects this to shift in the final three months of the year as institutions look to catch up.

Lee pointed to ETH's 76% gain since the end of June, which significantly outperformed the S&P 500's 2% rise during the same period, as a potential catalyst for increased interest. He also identified tokenization and the integration of blockchain technology into AI as long-term drivers for institutional adoption.