BitMine Immersion Technologies has bought another 28,086 Ethereum worth about $70 million, taking its total ETH holdings to nearly 5.93 million. The latest purchase brings the company closer to its ambitious goal of accumulating 5% of Ethereum’s total supply. BitMine said it has now completed about 97% of the target.
The company, led by Chairman Tom Lee, said its Ethereum holdings now represent about 4.9% of the network’s estimated supply. BitMine is the world’s largest publicly listed Ethereum treasury and has continued to build its holdings aggressively since announcing its Ethereum treasury strategy in June 2025.
The latest purchase was made at an average price of around $2,495 per ETH, according to the company. With the addition, BitMine’s total Ethereum holdings have reached approximately 5.93 million ETH.
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BitMine provided its latest holdings update for September 8, 2026$15.7 billion in total crypto + “moonshots”:
– 5,929,198 ETH at $2,495 per ETH per ETH per ETH (per @coinbase)
– 211 Bitcoin (BTC)
– $180 million stake in Beast Industries @MrBeast
– $91 million stake in…— Bitmine (NYSE-BMNR) $ETH $BMNP (@BitMNR) September 8, 2026
BitMine is also generating additional returns by staking a large portion of its Ethereum holdings. More than 5.06 million ETH is currently staked through its Made in America Validator Network, known as MAVAN. The company estimates that its staked holdings could generate around $330 million in annualised revenue based on the current staking yield.
BitMine reported total assets of approximately $15.7 billion, including its crypto holdings, cash, marketable securities and strategic investments. The company’s aggressive Ethereum accumulation has made it a major player in the growing corporate crypto treasury market.
Tom Lee remains optimistic about Ethereum and the broader digital-asset market. He said Ethereum has been one of the strongest-performing macro assets in the third quarter of 2026, outperforming the S&P 500 by more than 5,000 basis points. He also pointed to several potential catalysts for the crypto market, including the expected vote on the CLARITY Act in September, rising cryptocurrency interest in South Korea, and continued activity in blockchain tokenisation and agentic artificial intelligence.
However, Ethereum’s price has remained under pressure this year. ETH was trading at around $2,469 on Tuesday and was down about 16% since the beginning of 2026. BitMine’s shares also fell more than 2% at Tuesday’s market open.
Despite the market weakness, BitMine continues to pursue its long-term strategy. With 97% of its target already achieved, the company is now only a step away from reaching its goal of owning 5% of Ethereum’s total supply.
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