Bitmine Immersion Technologies bought $75.2 million worth of Ethereum over the past week, increasing its holdings to 5,983,940 ETH. This latest acquisition represents approximately 4.9% of the token's total 122.1 million circulating supply. The company, which identifies as the largest Ethereum treasury firm, has maintained a steady buying pace for more than a year, with the current purchase adding 27,562 ETH to its balance sheet.
| Metric | Value |
|---|---|
| Latest Purchase Value | $75.2 million |
| ETH Acquired | 27,562 |
| Total Holdings | 5,983,940 ETH |
| Percentage of Supply | 4.9% |
| Staked ETH | ~5,000,000 |
The acquisition occurs as Ethereum prices hit $2,735 on Sept. 21, reflecting a rise of more than 30% since the end of August. Since the end of June, ETH has climbed 76%, outperforming major stock indices. Bitmine Chairman Tom Lee stated in a social media post that institutional investors remain underexposed to cryptocurrencies despite these price rallies.
Bitmine reported that it has staked approximately five million ETH, which accounts for roughly 85% of its total holdings. The company projects annual staking revenue of $357 million at current yield levels. While a growing number of analysts suggest the crypto winter that began in October 2025 is nearing an end, Bitmine's stock (NYSE: BMNR) has declined 53% over the last 12 months to trade at $25.99 per share.