Ethereum news: Bitmine (BMNR) adds bought $75M ETH as Tom Lee says institutions are underweight crypto
Summary
Bitmine Immersion Technologies bought 27,562 ETH, worth about $75.2 million, bringing its holdings to 5,983,940 ETH, or roughly 4.9% of supply. The treasury firm has bought ETH weekly since adopting its strategy in June 2025 and aims to reach 5% of supply within a couple of months at its recent pace. It has staked about 85% of its holdings and estimates annual staking revenue of $357 million at current yields. Chairman Tom Lee expects institutional investors to increase crypto exposure in late 2026, citing their current underweighting and ETH’s gains relative to the S&P 500.
