Bitmine scoops up another 71,000 ETH, total holdings approach 5% of the entire network's supply! Tom Lee: Ethereum dropping below $2,200 is an excellent buying opportunity

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Whales fearlessly bottom-fish amid the crash! US-listed Bitmine (BMNR) announced today (18th) that, taking advantage of ETH falling below $2,200, it swept up over 71,000 ETH in a single week. Its total holdings have now reached 5.28 million ETH, just one step away from the dominant goal of controlling 5% of the entire network's supply. (Background: Are oil prices the real culprit crushing ETH? BitMine Chairman Tom Lee: Just short-term noise) (Context: The Ethereum Foundation OTC-dumped another 10,000 ETH to Bitmine! Cumulative cash-out exceeds $68 million in the past month and a half) US-listed company Bitmine Immersion Technologies (NYSE: BMNR), hailed by the market as "the Ethereum version of MicroStrategy," has once again demonstrated its ultimate faith in ETH and its astonishing capital strength. Having just officially upgraded its listing to the New York Stock Exchange (NYSE) main board in April this year, Bitmine released its latest corporate update announcement today (18th), revealing its aggressive bottom-fishing actions amid violent fluctuations in the crypto market. As the market sank into gloom, Bitmine chose to go against the trend and add to its position. According to the announcement, Chairman Tom Lee revealed in his latest chairman's letter that the team viewed the recent drop of ETH below $2,200 as an excellent buying opportunity. Over the past week, the company aggressively deployed capital, successfully adding up to 71,672 ETH to its holdings. This decisive buying action once again establishes Bitmine's market position as the world's largest ETH holder (second only to Strategy Inc.'s dominance in the Bitcoin market). After completing this massive purchase, Bitmine has now achieved 87% of its famous "Alchemy of 5%" strategic goal — namely, holding 5% of ETH's total supply. The latest data shows that its balance sheet has reached a staggering scale: - Total Ethereum holdings: As high as 5,278,462 ETH, controlling approximately 4.37% of the network's total supply (valued at approximately $11.56 billion at $2,191 per ETH). - Staking scale: 4,712,917 ETH have been deployed for staking on its in-house institutional-grade platform MAVAN. - Total asset scale: Including ETH, $685 million in cash, 202 BTC, and other investments, total assets reach as high as $12.6 billion. Notably, the extremely high staking ratio brings astonishing cash flow to Bitmine. Calculated at the current annualized yield of approximately 2.80%, this massive staked asset is expected to generate approximately $289 million in passive income for the company each year; if all ETH were fully staked in the future, that income could potentially exceed $324 million. Regarding the future market outlook, Bitmine Chairman Tom Lee expressed high optimism and anticipates that the company will successfully achieve its ultimate goal of holding 5% of the total supply within 2026: "Ethereum will directly benefit from Wall Street's asset tokenization trend, as well as the AI industry's urgent demand for neutral public chain infrastructure." In addition, Lee specifically called out the CLARITY Act currently being advanced in US politics. He emphasized that once this act passes smoothly, it will provide the long-awaited clear regulatory framework for the US crypto industry, which will undoubtedly usher in long-term positive developments for Ethereum and the entire digital asset market.

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