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Bitmine buys 28,086 ETH and completes 97% of its supply target
The latest purchase valued around $69.5 million lifts Bitmine’s holdings to 4.9% of Ethereum’s circulating supply, while unrealized losses on its ETH treasury total $5.1 billion.
Bitmine Immersion Technologies said it bought 28,086 Ether last week, bringing its progress toward a goal of accumulating 5% of Ethereum’s total supply to 97% within 15 months, according to Cointelegraph.
The companys latest ETH acquisition is currently worth about $69.5 million, and it raised Bitmine’s total holdings to 5.93 million ETH acquired at an average price of $2,495 per ETH.
Cointelegraph also reports Bitmine reported $15.7 billion in total assets, including $593 million in marketable securities, cash, other crypto holdings and 5.1 million in staked ETH, which it expects to generate $330 million in annualized staking revenue.
Despite the milestone, Cointelegraph said Bitmine is facing $5.1 billion in unrealized losses on its ETH holdings, with Ether down 16% since the beginning of 2026 and Bitmine’s NYSE-listed BMNR stock down more than 2% at the Tuesday open.
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