The numbers keep growing. In the week ending August 16, 2026, Tom Lee’s Bitmine Immersion Technologies swept the market again by purchasing 9,926 ETH. This latest transaction pushed their holdings to 5.82 million ETH. This volume represents 4.8% of the entire circulating Ethereum supply, placing them among the world’s top asset holders.
At the reference price of $1,893, the crypto stash on Bitmine’s balance sheet is valued at around $11 billion. But behind that 11-digit valuation, the company is carrying an unrealized loss of over $8.4 billion. This book deficit is equivalent to 43% of their total portfolio value. This negative figure has ballooned for one definitive reason: Bitmine has never stopped purchasing ETH every week since they launched their treasury strategy in June 2025.
Staking Engine Supports ‘Alchemy of 5%’ Ambition
This weekly routine hinges on a single target that the company calls the ‘Alchemy of 5%’. The ultimate goal is to control exactly five percent of the total ETH supply. With a 4.8% share in hand, Bitmine is now just 0.2% away from reaching the finish line of their main ambition.
To withstand the pressure of the $8.4 billion loss, Bitmine is not letting their coins lie idle. They have deposited more than 5 million ETH - worth approximately $9.6 billion - into the network as staking capital. This allocation generates a 2.61% yield in every seven-day cycle. Through this staking engine, Bitmine projects reward revenues to reach $287 million annually. This daily cash flow acts as a safety net, keeping the operational machinery running when spot prices drop sharply.
Focus on Hegotá, Not Daily Prices
This steadfast determination to hold their coins coincides with the scheduled core network upgrade. Ethereum developers are currently busy narrowing down 66 technical proposals to finalize the architecture of the Hegotá upgrade. This focus on the base layer aligns with Bitmine’s choice to bet on long-term network utility rather than panicking over weekly market volatility.
On Monday at the start of the week, ETH edged slightly higher, trading just above the $1,900 level. For ordinary retail investors, a 43% loss in investment value would be enough to trigger an emergency sell button. But for an entity earning hundreds of millions of dollars simply from validating the network, price fluctuations are just neutral numbers flashing on a screen.
Reported by Cointelegraph.
Also read: How Crypto Staking Works and Its Risks
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
