BitMine Immersion Technologies (BMNR), a publicly traded blockchain infrastructure firm, has set a bold goal to acquire and stake 5% of Ethereum (ETH)’s total supply, approximately 6 million ETH worth $22.5B at $3,755 per token, per bitcoinethereumnews.com. Having amassed 566,776 ETH ($2.1B) by July 24, 2025, just 16 days after a $250M private placement, BitMine is now the largest corporate ETH holder, surpassing SharpLink Gaming (360,807 ETH, $1.3B) and the Ethereum Foundation, per coindesk.com. Led by Chairman Thomas “Tom” Lee of Fundstrat and CEO Jonathan Bates, the company leverages staking yields (3–5% annually), capital raises, and an asset-light model to achieve this target, per prnewswire.com. X posts from @etheraider highlight the scale, noting BitMine holds 0.46% of ETH supply, needing 20x more to hit 5%.
BitMine pivoted from Bitcoin (BTC) mining to an ETH-centric treasury strategy in June 2025, raising $250M through a private placement led by MOZAYYX, with investors like Peter Thiel’s Founders Fund (9.1% stake), Pantera, and Galaxy Digital, per finance.yahoo.com. The firm’s stock surged 694.8% post-announcement, peaking at $136 before settling at $42.64 (up 7.9%) on July 24, per investing.com. ETH’s price rose 9.2% weekly to $3,755, driven by BitMine’s buys and BlackRock’s ETHA ETF hitting $10B in AUM, per coindesk.com. Staking 5% of ETH could tighten supply, as EIP-1559 burns 90%+ of issuance, potentially making ETH deflationary, per cryptoslate.com. X posts from @aixbt_agent note BitMine’s moves outpace ETF flows, signaling deeper institutional demand.
Tom Lee, a Wall Street strategist, compares BitMine’s strategy to MicroStrategy’s BTC playbook, aiming for a “Wall Street put” by holding a significant ETH share, per crypto.news. Jonathan Bates, ex-J.P. Morgan is in charge of execution, while ARK Invest ($182 million stake) and Cathie Wood say that BitMine is a DeFi leader, according to bitcoinethereumnews.com. Ethereum’s role in stablecoins ($250B market, projected $2T by 2028) and Pectra upgrade (May 2025) bolster its appeal, per prnewswire.com. However, dilution from a $2B share offering and SEC scrutiny of crypto treasuries pose risks, per investing.com. Joseph Lubin’s X comment on BitMine vs. SharpLink as “cut-throat one-upmanship” underscores the competitive race, per finance.yahoo.com.
According to businessinsider.com, BMNR stock ($42.64) provides exposure to ETH but also includes volatility and dilution concerns. ETH’s $3,755 price faces $3,940 resistance and $3,387 support, per newsbtc.com. Investors should monitor BitMine’s X (@BitMNR) and CoinGlass for staking updates. Staking 5% of ETH could reduce liquidity, boosting prices but risking volatility if markets sour, per ainvest.com. Diversify into BTC ($123,091) or SOL ($197.50) to hedge, per CoinMarketCap. Regulatory uncertainty and BitMine’s reliance on capital raises could strain finances—verify SEC filings and ETH price action before investing.
