Tom Lee's Bitmine Purchases Additional $70 Million Worth of Ethereum: Accelerating the '5% Alchemy' Strategy

On July 8, 2026, according to on-chain data and corporate filings, Bitmine Immersion Technologies (BMNR) added approximately $70 million worth of Ethereum (ETH) to its treasury assets. With this purchase, Bitmine's total holdings have reached 5.74 million ETH, representing about 4.8% of the total circulating supply of Ethereum. Chairman Tom Lee's 'Alchemy of 5%' strategy is on the verge of achieving its goal.

Even in the midst of a mini crypto winter, our focus remains on systematically executing our treasury strategy and steadily acquiring Ethereum to optimize value.

This $70 million purchase is an extension of the recent aggressive buying spree. Bitmine also purchased $50 million worth of Ethereum on Friday, July 3, 2026. Despite market volatility, Chairman Tom Lee defines Ethereum as the 'future of money,' distinguishing the company's path from other Bitcoin-centric firms.

'Alchemy of 5%' and Ethereum-Centric Strategy

Bitmine's treasury management philosophy goes beyond simple asset holding. The 'Alchemy of 5%' embodies the bold goal of securing 5% of the global circulating supply of Ethereum. Chairman Tom Lee highly values Ethereum's technical worth and ecosystem scalability, making it a core pillar of corporate treasury. This approach contrasts with other companies like MicroStrategy, which focus primarily on Bitcoin.

• Goal to secure 5% of Ethereum's circulating supply (currently 4.8% achieved)
• Choosing Ethereum as the primary asset instead of Bitcoin
• Generating revenue through its own staking platform, MAVAN
• Buy-the-dip strategy based on confidence in 'Crypto Spring'

Bitmine's portfolio shows a diversified asset composition beyond Ethereum. Currently, Bitmine's total balance sheet size reaches approximately $11.1 billion. This includes 206 BTC and $527 million in cash and marketable securities, and it also holds stakes in Beast Industries and Eightco Holdings.

Of particular note is the method of monetizing its holdings. Bitmine is staking approximately 85% of its Ethereum through its own staking platform, MAVAN (Made in America Validator Network). This is expected to generate approximately $230 million in annual staking revenue, which is evaluated as a case of transforming treasury assets from a simple store of value into a productive source of income.

Institutional Investor Influx and Market Evaluation

Bitmine recently solidified its position in the institutional financial market by being included in the Russell 1000 index. Chairman Tom Lee expressed expectations that this index inclusion would lead to hundreds or even thousands of new institutional investors participating as Bitmine shareholders. This suggests growing institutional trust in cryptocurrency-focused companies.

However, market concerns are not absent. Amid rapid market volatility, such as the price shock on October 10, 2025, BMNR's stock price showed a downward trend. Nevertheless, Bitmine defined this as a "superficial" sell-off and is proving its strategic resilience by using it as an opportunity to buy the dip.

In conclusion, Bitmine is expected to continue its Ethereum accumulation through the second half of 2026. Having secured 4.8% of the circulating supply, only 0.2 percentage points remain until the final goal of 5%. If the "Crypto Spring" emphasized by Chairman Tom Lee becomes a reality, Bitmine's Ethereum-centric treasury strategy is highly likely to become a new standard for corporate asset management.