Tom Lee's Ethereum treasury company Bitmine is now almost 90% of the way toward its plan to hold 5% of all ETH, after another weekly purchase lifted its Ethereum holdings to 5.39 million tokens.
The company said in a May 26 press release that it held nearly 5.4 million ETH as of May 25, worth about $11.5 billion.
That equals 4.47% of Ethereum's 120.7 million token supply and puts it 89% of the way toward its "Alchemy of 5%" target. The company added 111,942 ETH over the past week, the press release reads.
Bitmine also said that over 4.7 million ETH, or more than 87% of its ETH holdings, is now staked. That means that the staked position is worth about $10.1 billion and is expected to generate about $276 million in annual staking rewards at a 2.75% annualized yield.
Amid the news, Bitmine shares jumped 2.5% to around $19.33 in pre-market trading, per Google Finance data.