Bitmine purchases $68M in Ethereum to approach 5% supply ownership goal.
Macro & Markets ·
Bitmine Immersion Technologies purchased 27,180 Ethereum tokens last week, expanding its holdings to approximately 6 million ETH and moving closer to its stated goal of owning 5% of Ethereum's supply. The company valued its total Ethereum position at roughly $14.89 billion, representing about 4.9% of the network's circulating supply as reported by Decrypt.
The acquisition reflects Bitmine's ongoing weekly buying pattern since launching its treasury strategy on June 30, 2025. Roughly 85% of the company's Ethereum holdings—5.07 million tokens—are currently staked, generating an estimated $334 million in annualized revenue at a 2.62% yield. Bitmine's total assets, including 212 Bitcoin, $549 million in cash and securities, and other strategic investments, total $15.8 billion.
The purchase comes amid strong Ethereum performance in the third quarter, with ETH outperforming the S&P 500 significantly year-to-date. Bitmine noted that if all its staked Ethereum were deployed through specific partners, annualized staking revenue could potentially reach $392 million, though this projection depends on token prices and yield rates remaining stable.