BitMine Adds 28,086 ETH as Treasury Nears 5% of Supply

BitMine Immersion Technologies continued its weekly accumulation of ether, adding 28,086 ETH in the latest disclosure and raising its total to 5,929,198 ETH. The company reported a market valuation for that position of about $14.79 billion, using a Coinbase reference price of $2,495 as of 2 p.m. ET on Sept. 7, according to a press release furnished to the U.S. Securities and Exchange Commission.

That ETH stake represented roughly 4.9% of an estimated 122 million ETH supply, putting BitMine close to its stated goal of controlling 5% of Ethereum. The latest weekly addition was smaller than the 53,501 ETH the company bought in the prior week but larger than each of the four weekly purchases before that; BitMine’s chairman Tom Lee said the company has bought ETH every week since the strategy began on June 30, 2025.

While the company’s ETH position accounted for the bulk of reported crypto holdings, BitMine’s aggregate market-value snapshot rose only modestly to $15.7 billion from $15.6 billion the week before. The disclosure did not include an updated average acquisition price for ETH, so the $14.79 billion market valuation cannot be directly compared with the company’s aggregate cost basis from the release alone. The broader total also included 211 BTC, about $593 million in cash and marketable securities, and equity stakes valued at $180 million in Beast Industries and $91 million in Eightco Holdings.

BitMine reported that roughly 5,067,309 ETH — about 85% of its holdings — were staked as of Sept. 7, and projected $330 million in annualized staking revenue using a seven-day annualized yield of 2.61%. The company has continued purchases while moderating the pace as it approaches its 5% target.