BitMine Immersion Technologies, the world’s largest Ethereum treasury company led by Thomas “Tom” Lee, said Monday it has reached over 50% of its target to control 5% of the Ethereum supply.

The firm reported adding 202,037 ETH last week, lifting its total holdings to over 3 million ETH, while also maintaining 192 Bitcoin. It disclosed additional assets, including $135 million equity stake in Eightco Holdings and $104 million in cash as of Oct. 12.

According to Lee, BitMine capitalized on the recent market downturn to expand its Ethereum holdings.

“The crypto liquidation over the past few days created a price decline in ETH, which BitMine took advantage of. We acquired 202,037 ETH tokens over the past few days pushing our ETH holdings to over 3 million, or 2.5% of the supply of ETH,” he said in a statement. “We are now more than halfway towards our initial pursuit of the ‘alchemy of 5%’ of ETH.”

BitMine’s stock has become one of the most actively traded in the US market, with a five-day average daily trading volume of $3.5 billion as of October 10, 2025, ranking 22nd among US-listed stocks.

The stock rose nearly 7% in pre-market trading on Monday, according to Yahoo Finance data.