BitMine Doubles Down on Ethereum Accumulation with $131M Purchase

BitMine Immersion Technologies has continued its aggressive accumulation of Ethereum, purchasing 53,501 tokens for $131 million in the week ending August 30, 2026. This marks the company's 65th consecutive weekly purchase since launching a dedicated ETH treasury strategy in June 2025.

The acquisition brings BitMine's total Ethereum holdings to 5,901,112 tokens, worth approximately $14.8 billion at the current price of around $2,511 per token. This represents about 4.9% of the global ETH supply of 120.7 million tokens.

BitMine's strategy is similar to that employed by MicroStrategy with Bitcoin, but with a key difference: staking income. The company has staked over 5.067 million of its ETH tokens, which are expected to generate annual rewards of around $390 million once full deployment is complete.