Bitmine nears 5% Ether supply goal with $69.5M purchase

NYSE-listed Bitmine Immersion Technologies, the largest corporate Ether holder, said Tuesday it acquired another 28,086 Ether (ETH) last week, currently worth about $69.5 million, according to a Tuesday announcement. The purchase raises its total holdings to 5.93 million ETH, acquired at an average price of $2,495 per ETH, and Bitmine now ranks as the world’s largest publicly listed Ether treasury.

However, led by chairman Tom Lee, the company has completed 97% of its goal to accumulate 5% of the total Ether supply within 15 months. After the purchase, its holdings account for 4.9% of Ethereum’s 120.7 million circulating supply.

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. The staked ETH is expected to generate $330 million in annualized staking revenue.

Consequently, the company faces $5.1 billion in unrealized losses on its ETH holdings, according to Dropstab data. Ether’s price has fallen 16% since the beginning of 2026 and was trading at $2,469 at 1:29 pm UTC Tuesday, according to CoinMarketCap.

Meanwhile, the company’s NYSE-traded BMNR stock slipped more than 2% at Tuesday’s market open, poised to extend its year-to-date decline into double digits, according to Yahoo Finance.

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