Bitmine Immersion Technologies, Tom Lee’s crypto treasury company, has quietly built one of the largest positions in the world of digital assets.
Bitmine has now amassed a total Ethereum asset base of $14.0 billion amid a rapid accumulation of ETH tokens.
As of January 11, Bitmine’s portfolio comprised around 4.168 million ETH, roughly 3.45% of the entire ETH supply, along with a modest position in Bitcoin, a small stake in stocks, and nearly $1 billion in cash on hand.
This colossal balance sheet places Bitmine among the largest corporate owners of crypto assets globally and by far the largest Ethereum digital asset treasury (DAT) in the world.
Bitmine has been focused on Ethereum accumulation for over a year. Throughout 2025, the publicly traded Nasdaq company steadily expanded its ETH treasury, growing from millions of tokens at the beginning of the year to more than four million today, often using market pullbacks as buying opportunities.
Bitmine is now almost three-quarters of the way toward its self-imposed goal of owning 5 percent of the total ETH supply, a benchmark the company refers to as the “5% Alchemy.”
Lee says,
“2026 portends many positive things for cryptocurrencies, with stablecoin adoption and tokenization pushing to make blockchain Wall Street’s settlement layer, particularly favoring Ethereum… We continue to see the post-October 10, 2025 leverage reset as something akin to a ‘mini crypto winter.’ 2026 is the year cryptocurrency prices recover and with further gains in 2027-2028.”
“In the last week, we acquired 24,266 ETH and still managed to increase our cash position by $73 million. Bitmine only issues shares selectively and only at a premium to mNAV. We remain the largest buyer of ETH ‘fresh money’ in the world… And when MAVAN launches its trading operations, we will be the largest staking provider in the entire crypto ecosystem.”
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Image generated: Halfway through the trip
