BitMine Immersion Technologies has bought another 27,180 ETH, taking its total Ethereum holdings to 5,956,378 ETH. The company is almost to its goal of owning 5% of Ethereum total supply. The company’s latest acquisition made in the past week was around $68 million based on the ETH price hovering around $2,500. BitMine has already reached 98% of its goal which is around 6.1 million ETH. Since initiating its Ethereum Treasury Strategy in June, the company has bought Ethereum weekly.
The most recent acquisition raises BitMine’s Ethereum holdings to around 6 million ETH, according to the company’s September 14 release. With Ethereum’s total supply at around 122 million ETH, BitMine now controls approximately 4.9% of the supply.
The company needs roughly another 144,000 ETH to reach its 5% target. Its continued accumulation has made BitMine one of the most prominent corporate holders of Ethereum.
Chairman Tom Lee said the company has maintained its buying programme without interruption. Since launching its Ethereum Treasury Strategy on June 30, 2025, BitMine has made weekly purchases of ETH. It purchased an additional 28,086 ETH on September 8, demonstrating that its most recent acquisition is generally consistent with its current buying trend.
Additionally, a significant amount of BitMine’s Ethereum is being staked. With 5,067,309 ETH invested as of September 13, the firm was valued around $12.7 billion at the $2,513 ETH pricing.
ETH is dedicated to validators who contribute to the security of the Ethereum network by staking. Participants may get staking incentives in exchange. BitMine said its staked holdings could increase as more of its ETH becomes fully staked through MAVAN and its staking partners.
Additionally, Lee highlighted a number of advancements that may help Ethereum and the larger cryptocurrency industry. According to him, the ETH-BTC ratio—which contrasts Ethereum’s worth with that of Bitcoin—has hit its highest point since January 30. Additionally, he pointed out that the ratio had violated a trendline that had existed since the highs of the COVID-19 era.
According to Lee, Ethereum’s stronger position is linked partly to the growth of tokenization on Wall Street and the possible use of Ethereum in agentic artificial intelligence.
He also highlighted the expected US Senate vote on the Clarity Act, which focuses on rules for the crypto market. Lee sees the vote as one of several potential positive developments for crypto towards the end of 2026.
He added that Korean investors had started buying crypto again while moving away from AI stocks.
Lee believes the four-year crypto market cycle could be approaching a bottom within the next few weeks. In his view, this could create an opportunity for larger institutional buying during the final months of 2026.
BitMine adviser Tom DeMark is also optimistic about Ethereum’s near-term prospects. He pointed to ETH’s sideways movement during August without a major breakdown as a possible sign of renewed upward momentum.
Despite the company’s aggressive Ethereum buying, BMNR shares showed only a modest reaction to the announcement. The shares were trading at around $25.07, up 0.40% over the previous 24 hours at the time of reporting.
BitMine said ETH was the best-performing macro asset in the third quarter through September 11, outperforming the S&P 500 by 5,866 basis points. The company also identified ETH, Solana and Bitcoin as the three best-performing assets since June 30.
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