Bitmine buys $81 million in Ethereum as holdings near 5% of total supply
Bitmine accelerates Ethereum purchases
Bitmine Immersion Technologies, a company that holds Ethereum (ETH) as part of its treasury, bought 32,447 ETH last week. This purchase is worth about $81 million at current prices. The company, led by Tom Lee, has been adding ETH to its holdings every week since June 2025.
This is the largest weekly purchase by Bitmine since early July. The company now holds nearly 5.85 million ETH, valued at approximately $14.6 billion. Ethereum is a digital currency that powers a blockchain network, which is a type of online ledger used for transactions and applications.
Key details of the purchase
- Bitmine bought 32,447 ETH last week, worth about $81 million.
- The company’s total ETH holdings are now 5,847,611 tokens, valued at $14.6 billion.
- Bitmine aims to own 5% of Ethereum’s total supply, which is currently 120.7 million tokens.
- The company has staked 5.07 million ETH, earning an estimated $330 million in annual staking revenue.
Bitmine’s Ethereum holdings near target
Bitmine’s latest purchase brings its holdings to about 4.8% of Ethereum’s total supply. The company’s goal is to own 5% of all ETH in circulation. At the current supply level, reaching this target would require about 6.04 million ETH, leaving Bitmine roughly 187,000 tokens short.
The company has been steadily increasing its ETH holdings since launching its treasury strategy in June 2025. Bitmine has also staked most of its ETH, which means it locks up the tokens to help secure the Ethereum network and earns rewards in return.
Tom Lee comments on Ethereum’s price rally
Tom Lee, the chairman of Bitmine, noted that Ethereum’s price rose by about 30% last week. He suggested that similar rallies in the past led to larger price increases. For example, Ethereum gained 167% after a similar rally in July 2021 and 170% after a rally in May 2025.
Lee mentioned that easier financial conditions, the tokenization of assets by Wall Street, and potential blockchain use by AI agents could support Ethereum’s price further. He also expects these trends to help Ethereum gain ground against Bitcoin, another major digital currency.
What is confirmed
- Bitmine purchased 32,447 ETH last week, worth about $81 million.
- The company now holds 5,847,611 ETH, valued at $14.6 billion.
- Bitmine’s holdings represent 4.8% of Ethereum’s total supply.
- The company has staked 5.07 million ETH, earning an estimated $330 million annually from staking rewards.
What is still unclear
- Whether Ethereum’s recent price rally will lead to further gains, as suggested by Tom Lee, remains uncertain.
- The exact timeline for Bitmine reaching its 5% supply goal is not specified.
Why this matters for Ethereum holders
Bitmine’s large purchases and growing holdings could signal confidence in Ethereum’s long-term value. The company’s strategy of staking ETH also highlights the potential for earning rewards by participating in the network’s security. However, past price movements do not guarantee future results.
