Bitmine Adds $41 Million in ETH, Nears 5% Supply Goal

Bitmine Immersion Technologies, a publicly traded ether treasury firm, has significantly boosted its ETH holdings, bringing it closer to its goal of owning 5% of the circulating supply. The company announced on Monday that it acquired an additional 15,112 ETH last week, valued at approximately $41 million. This purchase increased Bitmine's total holdings to over 6.016 million ETH, worth about $16.27 billion at the current ether price of $2,710. With these additions, Bitmine now holds more than 4.9% of the ETH supply.

Bitmine Chairman Tom Lee highlighted the firm's performance during the bear market of 2025-2026, noting that Bitmine's share price outperformed ETH by 731 basis points in the first nine months of 2026. Lee also pointed out that ETH outperformed the S&P 500 by 6,832 basis points in the third quarter of 2026, despite macroeconomic challenges such as a hawkish Federal Reserve, rising oil prices, and tightening financial conditions. He emphasized the strategic buybacks of over 21 million BMNR shares this year, valued at more than $558 million.

ETH's price has seen a 51% increase over the last three months, although it is down about 9% since the start of the year. Bitmine is not alone in its recent crypto purchases; Strategy, a prominent bitcoin treasury firm, added $28.7 million worth of BTC last week, bringing its total holdings to over $72.5 billion. Similarly, Strive increased its bitcoin stash by 2,000 BTC, valued at $169 million, bringing its total to 29,462 BTC worth over $2.5 billion.