BitMine Immersion Technologies has bought 53,501 Ether (ETH) in its latest weekly purchase, extending its buying streak to 65 consecutive weeks and taking its Ethereum holdings to 5,901,112 ETH. The company said its combined crypto, cash and equity position has now reached $15.6 billion.
BitMine owns about 4.9% of Ethereum’s total supply, bringing it close to its stated goal of controlling 5% of all ETH. The latest purchase comes as Chairman Tom Lee argues that Ethereum has been one of the strongest-performing major crypto assets in the third quarter.
Despite the volatility of the market, BitMine kept growing its Ethereum holdings, as seen by the most recent acquisition. The company’s 5.9 million ETH hoard was valued at over $14.8 billion on August 30 at a reference price of $2,511 per ETH. The company’s holdings climbed by more over 53,000 tokens in only seven days, from 5,847,611 ETH a week prior.
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BitMine provided its latest holdings update for August 31, 2026$11.8 billion in total crypto + “moonshots”:
– 5,901,112 ETH at $2,511 per ETH per ETH (per @coinbase)
– 211 Bitcoin (BTC)
– $180 million stake in Beast Industries @MrBeast
– $81 million stake in Eightco…— Bitmine (NYSE-BMNR) $ETH $BMNP (@BitMNR) August 31, 2026
BitMine is currently just 134,000 ETH short of the 5% goal. With 120.7 million Ethereum tokens in circulation, the 5% threshold is around 6.04 million tokens.
The latest purchase also comes after a particularly strong period for Ether and the wider crypto market. Lee said Ethereum, Bitcoin and Solana have been the three best-performing major assets since June 30, with ETH leading the gains. He believes this strong performance could encourage institutional investors to increase their crypto exposure.
“We believe this sets the stage for institutions to add to their crypto holdings,” Lee said, pointing to crypto’s performance against other major assets during the third quarter.
BitMine has also been putting its large Ethereum reserve to work through staking. About 5.07 million ETH, or 86% of its holdings, is currently staked. The company said its staking operations generated a seven-day annualised yield of 2.63%, which translates into projected annualised revenue of around $335 million. If its entire ETH position were eventually staked through its validator network and partners, BitMine estimates annualised rewards could reach about $390 million.
The company slowed its purchases several times during July and August as it approached the 5% target. Weekly additions had fallen below 10,000 ETH on several occasions. The latest 53,501-ETH purchase therefore represents a significant acceleration in its accumulation strategy.
Lee also sees several potential catalysts ahead, including a possible US crypto market-structure bill vote in September, renewed buying from Korean investors and growing interest in blockchain-based tokenisation. Over the longer term, he expects Ethereum’s role in tokenising financial assets and supporting AI agents to strengthen demand for the network.
BitMine launched its Ethereum treasury strategy in June 2025 after shifting away from its earlier focus on Bitcoin mining. Since then, its ETH holdings have grown rapidly, making it the largest publicly disclosed corporate Ethereum treasury.
With nearly 5% of Ethereum’s supply now under its control, BitMine’s next major milestone is clear: reaching the 5% mark. The latest purchase shows that, despite the size of its existing position and the paper losses on its holdings, the company is still willing to keep accumulating ETH.
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