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Bitmine buys $69M of Ether as it targets 5% of supply
The latest purchase brings Bitmine’s holdings to 5.93 million ETH, about 4.9% of 122 million circulating supply, and leaves roughly 171,000 ETH to reach its target.
Bitmine Immersion Technologies (NYSE: BMNR) said it bought an additional 28,086 Ether last week, a move worth about $69.4 million at Tuesday’s price of roughly $2,472 per ETH, as it continues its stated goal of controlling 5% of Ethereum’s total supply, according to Yahoo Finance.
The company’s Ether holdings rose to 5.93 million ETH, which is about 4.9% of Ethereum’s 122 million circulating supply. Bitmine said it is still around 171,000 ETH short of its target.
Bitmine also reported that it has been buying Ether every week since launching its Ethereum treasury strategy in June 2025, with the most recent purchase smaller than the 53,501 ETH bought the prior week. If it maintains that pace, the company said it could be within reach of the 5% goal in less than two months.
Along with its crypto and investments, Bitmine said its total crypto, cash, and other investments are valued at about $15.7 billion. It also said about 5.07 million ETH, or roughly 85% of its holdings, is staked, and staking operations generated a 7 day yield of 2.61%, implying projected annualized staking revenue of about $330 million, while Ether was trading around $2,457, down roughly 2% over the past day.
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