The firm’s latest purchase lifts its Ethereum stash to 5.67 million ETH, worth nearly $10 billion, as it nears its 5% supply goal.
Bitmine Immersion Technologies added $92 million of ether (ETH) last week, increasing its holdings to 5.67 million ETH, or 4.7% of the circulating supply. The purchase, valued at current prices near $1,760 per ETH, brings the firm’s total stash to nearly $10 billion.
The acquisition marks a slower buying pace compared to prior weeks but keeps Bitmine on track to own 5% of Ethereum’s supply by year-end. The company is now 94% toward its target, with cash reserves at $601 million. Chairman Thomas Lee reaffirmed plans to continue steady accumulation through 2026, citing long-term demand drivers like tokenization and AI.
Bitmine remains one of the few large-scale buyers of crypto assets amid broader market caution.