Bitmine Expands Ethereum Treasury With $90 Million Purchase

Last week Bitmine Immersion Technologies bought 45,759 ETH (about $90 million), raising total holdings to 4,371,497 ETH valued near $8.7 billion at a $1,998 reference price. Chairman Tom Lee said the purchase reflects conviction, highlighted 2026 tailwinds like tokenization, privacy adoption, and AI agents on Ethereum, and noted Bitmine stakes 3,040,483 ETH (~69%), generating $176 million annualized staking revenue.