BitMine Snaps Up $75M Worth of Ethereum, Nears 5% Market Share

BitMine Immersion Technologies, listed on the NYSE under ticker BMNR, has made another significant Ethereum purchase. The company acquired 27,562 ETH for $75 million in the week ending September 20, 2026, pushing its total holdings to nearly 5% of circulating supply. This brings BitMine's Ethereum position to approximately 4.9%, valued at roughly $16.1 billion.

BitMine launched its Ethereum treasury strategy on June 30, 2025, and has been executing weekly purchases ever since, primarily utilizing over-the-counter channels such as Kraken and FalconX. Chairman Thomas 'Tom' Lee noted that the company is now 98% of the way toward its stated goal of owning 5% of all circulating ETH.

The purchase price works out to roughly $2,727 per ETH. BitMine's total asset base, including Bitcoin holdings and cash reserves, now stands at $17.1 billion. What separates BitMine's approach from a simple buy-and-hold strategy is the staking component, with approximately 85% of its Ethereum holdings actively staked on the network.