Crypto

BitMine Surpasses $9 Billion in Ethereum Holdings, Closes in on 5% Target

Guavy AI Editorial Team Published August 18, 2026

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BitMine Immersion Technologies (NYSE: BMNR) has added to its Ethereum holdings, buying 9,926 ETH over the past week. This brings their total stack to 5.82 million tokens, equivalent to 4.8% of the entire 120.7 million ETH supply.

Since launching its ETH Treasury Strategy on June 30, 2025, BitMine has bought Ethereum every single week, maintaining a 14-month streak without missing a purchase. According to Chairman Thomas Lee, this pace keeps the company 'just short' of its self-described target of holding 5% of all ETH in circulation.

The accumulation sits alongside a separate buyback program, which saw BitMine repurchase 1.7 million common shares in the past week. This brings their cumulative repurchases to over 20.8 million shares since July 2026 under a $4 billion program.

Lee called this buyback 'the largest ever executed by any Ethereum, Bitcoin, or crypto digital asset treasury company.'

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