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Bitmine Immersion Technologies bought about 111,942 ETH worth roughly $237 million last week after Ethereum fell below $2,200. The Ethereum treasury firm, led by chairman Tom Lee, said it still aims to hold 5% of the ETH supply.
According to the company’s release, the latest purchase marked Bitmine’s biggest buy since December. It lifted total holdings to about 5.39 million ETH.
That total equals about 4.47% of all Ethereum in circulation. Bitmine said it keeps building its long-term crypto reserve in the United States.
The company also said its total crypto, cash, and investments now stand at about $12.3 billion. That figure includes 203 Bitcoin, $444 million in cash, and stakes in Beast Industries and Eightco Holdings.
Bitmine said it has staked more than 4.7 million ETH. That amount represents about 87% of its ETH holdings. From that stake, the company said it earns about $276 million each year based on a 2.75% return rate. It also said the recent ETH pullback created an attractive buying opportunity.
Tom Lee said the firm continues to acquire ETH steadily. He added that Bitmine still expects to reach its 5% supply target in 2026.
The company also pointed to its MAVAN platform, short for Made in America Validator Network. Bitmine said it first built the system for internal use and now plans to open it to larger investors and partners later.
Read More: BitMine's $10B Ethereum Bet Gains Focus Ahead of Its NYSE Debut
SharpLink also secured a major market milestone. The company will join the Russell 2000 and Russell 3000 indexes when U.S. markets open on June 29, 2026, according to a report shared by Wu Blockchain.
The annual Russell reconstitution places SharpLink among small-cap and broad-market U.S. equities tracked by institutional funds and exchange-traded products. That move should bring automatic index buying when the changes take effect.
SharpLink chief executive Joseph Shalom said the inclusion recognizes the company’s Ethereum treasury strategy. He said it supports the firm’s position as an institutional-grade Ethereum treasury platform.
Based in Miami, SharpLink rebranded from SharpLink Gaming in February 2026 after moving away from sports betting. It now focuses on Ethereum treasury operations and digital asset-related financial services.
The company’s public market expansion adds another step to its shift toward Ethereum-linked financial activity.
Bitmine expanded its Ethereum treasury with a $237 million purchase and now holds 5.39 million ETH. At the same time, SharpLink secured Russell index inclusion, marking another step in its Ethereum-focused shift. Both moves show growing institutional interest in Ethereum-based treasury strategies.
