BitMine Immersion Technologies reported $17.2 billion in combined cryptocurrency, cash, securities and investment holdings as of Sept. 27, 2026, including 6,001,302 ETH. Chairman Tom Lee told Korea Blockchain Week 2026 that he believes crypto has entered its largest-ever bull cycle, citing Bitcoin trading above its 200-day moving average, institutional inflows into Bitcoin products and growing tokenization efforts by major banks. BitMine's ETH holdings represented 4.9% of Ethereum's 122.1 million-token supply, leaving it 98% of the way toward its 5% Alchemy target. The company had staked 5,067,309 ETH as of Sept. 27 and said it purchased 17,362 ETH in the week ending Sept. 28, after acquiring 27,562 ETH the prior week. Lee said institutions remain underweight digital assets and expects them to increase exposure during the fourth quarter, while acknowledging that the outlook depends on volatile crypto markets.