The acquisition lifted the company's total holdings to 4,732,082 Ethereum. At current prices, those holdings are worth approximately $9.8 billion.
Ethereum News
Bitmine Immersion Technologies added 71,179 Ethereum last week, its largest single-week Ethereum purchase of 2026. The acquisition lifted the company's total holdings to 4,732,082 Ethereum. At current prices, those holdings are worth approximately $9.8 billion.
The latest purchase is valued at around $147 million at current prices. Bitmine did not disclose the average price it paid. The company has now increased its weekly buying pace for four consecutive weeks, up from a prior average of 45,000 to 50,000 Ethereum per week.
Bitmine also holds 197 Bitcoin valued at $13.4 million. It has a $102 million equity stake in Eightco Holdings and $961 million in cash. Total crypto and cash holdings stand at $10.7 billion.
The company's Ethereum position equals approximately 3.92% of Ethereum's circulating supply, which sits at around 120.7 million tokens. Bitmine is targeting a 5% share of circulating Ethereum, currently equivalent to roughly 6.04 million tokens. It said Monday it is 78% of the way toward that goal.
Bitmine Chairman Tom Lee said the firm continues to view the current downturn as a final phase. He cited rising oil prices and geopolitical tensions from the ongoing conflict, now in its fifth week, as the key pressures on risk assets. "ETH and crypto outperformed the broader market with Ethereum outperforming equities by 1,160bp," Lee said. "Crypto is demonstrating itself to be a good 'war time' store of value."
Lee also noted that the inverse correlation between oil prices and both crypto and equities has reached a one-year high. "The crypto winter likely ends when the upside risk to oil prices peaks," he said.
Bitmine's staked Ethereum totals 3,142,643 tokens. Annualized staking revenues from that position stand at $177 million. Staked holdings represent about 66% of the company's total Ethereum position.
Bitmine is the largest corporate Ethereum treasury holder. SharpLink holds approximately 863,021 Ethereum and The Ether Machine holds around 496,712 Ethereum, according to SER data. Bitmine is the second-largest public crypto treasury overall, behind Strategy, which holds 762,099 Bitcoin.
Most other large digital asset treasuries paused or reduced their holdings during the recent downturn. Strategy broke a 13-week Bitcoin purchasing streak in the same period. Bitmine is now the only major corporate buyer maintaining an active weekly accumulation streak.
Investors backing Bitmine include Cathie Wood's ARK Invest, Founders Fund, Pantera, Kraken, DCG and Galaxy Digital.
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