BitMine edges closer to 5 percent of Ethereum supply with latest purchase
BitMine has further expanded its Ethereum holdings, acquiring an additional 15,112 ETH for approximately $41 million. This latest purchase brings the company's total ETH reserve to 6,016,414, valued at around $16.4 billion. According to BitMine's calculations, this represents about 4.9% of the total Ethereum supply, nearing its 5% target.
The company has been consistently buying Ethereum since launching its treasury strategy on June 30, 2025. Over the past fifteen months, BitMine has become the leading corporate treasury focused on Ethereum and the second-largest listed crypto treasury, trailing only Strategy and its substantial Bitcoin reserve.
BitMine doesn't just hold its ETH; it actively stakes a significant portion. Out of its 6.02 million ETH, 5,067,309 are currently staked, generating around $363 million in annualized revenue. The company's total treasury exceeds $17.4 billion, including cryptocurrencies, cash, and various investments.
Tom Lee, president of BitMine, maintains optimism about Ethereum's prospects, asserting that a new crypto bull cycle is underway. Despite mixed market performance, with BitMine's stock down 3% and ETH losing nearly 10% over the first nine months of 2026, the company continues its aggressive accumulation strategy.