Bitmine nears 5% of Ethereum supply with latest ETH purchase

Bitmine adds 32,447 ETH as holdings reach 4.8% of supply

Bitmine Immersion Technologies, a company led by investor Tom Lee, has purchased another 32,447 Ether (ETH) in its latest weekly buy. This brings the company’s total ETH holdings to 5,847,611—about 4.8% of Ethereum’s total circulating supply.

The purchase continues a 14-month streak of weekly ETH buys that started on June 30, 2025. Bitmine is now 97% of the way toward its goal of owning 5% of all ETH in circulation.

Key details of Bitmine’s ETH holdings

• Total ETH held: 5,847,611 (4.8% of circulating supply).
• ETH staked: 5.07 million (87% of holdings).
• Total investment in ETH: Over $19.5 billion.
• Unrealized losses: Below $5 billion, down from $8.4 billion a week ago.
• Company assets: Combined crypto, cash, securities, and other investments total $14.9 billion.
• Stock performance: Bitmine’s NYSE-listed shares rose 8.7% at market open, extending six-month gains to 28%.

Ether price rally reduces Bitmine’s paper losses

Ether’s price recently climbed above $2,500 for the first time since January 2026. The rally followed an announcement by the U.S. Treasury that it would increase monthly purchases of longer-dated U.S. Treasury bonds from $2 billion to $4 billion starting next month.

Since the announcement, ETH has risen over 32%, outperforming Bitcoin. The price recovery has helped reduce Bitmine’s unrealized losses on its ETH holdings, which had grown during a prolonged market downturn.

What is confirmed

• Bitmine purchased 32,447 ETH last week, bringing its total holdings to 5,847,611 ETH.
• The company has bought ETH every week since June 30, 2025.
• Bitmine has staked 5.07 million ETH, representing 87% of its holdings.
• Ether’s price rose above $2,500 following the U.S. Treasury’s announcement.
• Bitmine’s unrealized losses on ETH holdings have decreased to below $5 billion.

What remains unclear

• The sources do not confirm whether Bitmine will reach its 5% ownership goal or when it might do so.
• It is unclear how long the current ETH price rally will continue or if it will further reduce Bitmine’s unrealized losses.

Why this matters for Ethereum investors

Bitmine’s accumulation strategy highlights growing corporate interest in Ethereum. The company’s holdings now represent nearly 5% of the total ETH supply, which could influence market dynamics if other large investors follow similar strategies.

The reduction in unrealized losses also shows how quickly crypto asset valuations can change with market conditions, affecting corporate treasury strategies.

Sources

• Cointelegraph