Bitmine Nears 5% of Ethereum Supply with $11.8 Billion in Crypto Holdings

Bitmine Immersion Technologies has significantly increased its Ethereum holdings to 5.79 million ETH, bringing its total crypto assets, cash, marketable securities, and strategic investments to $11.8 billion.

This move brings the company closer to its goal of acquiring 5% of Ethereum's total supply.

According to Bitmine Chairman Tom Lee, 'We increased our equity buyback as we view the rising ETH/BTC ratio, despite the falling odds of passage of the Clarity Act in 2026, as a sign crypto prices are strengthening.' The current ETH-to-Bitcoin ratio is at a 3-month high at 0.3000.

Bitmine also repurchased 6.1 million shares under its $4 billion buyback program, bringing total repurchases since July 1 to 11.6 million shares.