Crypto
Bitmine's $131M Ethereum Buy: A Step Closer to 5% Ownership
Bitmine Immersion Technologies (NYSE:BMNR) has made its largest Ethereum purchase in months, buying 53,501 ETH worth approximately $131 million last week.
This brings the company's total holdings to 5,901,112 ETH, valued at around $14.5 billion, which represents 4.9% of Ethereum's total supply of 120.7 million tokens.
Bitmine needs an additional 134,000 ETH to reach its target of owning 5% of the Ethereum supply.
The company has been purchasing Ethereum for 65 consecutive weeks since launching its treasury strategy in June 2025.
Bitmine Chairman Tom Lee noted that Ethereum is the best-performing macro asset in Q3, outperforming the S&P 500 (NYSE:SPY) by 5,430 basis points through last Friday.