Bitmine Immersion Technologies, the largest corporate holder of Ether, has announced a fresh acquisition of the cryptocurrency as it advances toward its management goal of holding 5% of Ethereum’s total supply.
Major Ether Purchase Boosts Holdings
The company stated on Tuesday that it purchased 28,086 Ether (ETH) last week, a transaction valued at approximately $69.5 million based on prevailing market rates. This brings Bitmine’s total Ethereum holdings to 5.93 million ETH, acquired at an average price of $2,495 per coin.
Following this acquisition, Bitmine now owns nearly 5% of the circulating Ether supply, edging closer to the company’s stated objective to accumulate 5% of the entire Ether market within 15 months. The company also completed a separate 53,501 ETH purchase last week, which previously brought its share of Ethereum’s circulating supply to 4.9% out of the 120.7 million total.
Company Asset Breakdown and Staking Revenue
Bitmine’s total assets stand at $15.7 billion, which includes $593 million in liquid assets such as marketable securities, cash, additional crypto holdings, and 5.1 million staked Ether. The company reports that its staked holdings are expected to generate $330 million in annualized staking revenue.
Approximately 97% of Bitmine’s target to acquire 5% of the Ether supply has now been achieved, the firm revealed. Chairman Tom Lee oversees the company’s aggressive accumulation strategy, which has rapidly elevated Bitmine to the top of major Ether holders.
Mini dictionary: Bitmine Immersion Technologies is a US-based blockchain infrastructure company primarily focused on large-scale cryptocurrency holdings and digital asset management, known for its significant acquisitions of Ethereum.
| Metric | Value |
|---|---|
| Total Ether held | 5.93 million ETH |
| Average purchase price | $2,495 per ETH |
| Share of total Ether supply | Approximately 5% |
| Current value of latest purchase | $69.5 million |
| Staked Ether holdings | 5.1 million ETH |
Market Context and Stock Reaction
Despite these major acquisitions, Bitmine currently faces $5.1 billion in unrealized losses on its Ethereum position, according to Dropstab data. This reflects the decline in Ether’s market value, which has fallen 16% since the start of 2026. At 1:29 pm UTC on Tuesday, ETH was trading at $2,469, according to CoinMarketCap.
Bitmine’s stock, listed on the New York Stock Exchange under the ticker BMNR, was down more than 2% at Tuesday’s market open. This latest movement extends the stock’s double-digit decline year-to-date, based on data from Yahoo Finance.
While nearing its accumulation target, Bitmine’s holdings account for a substantial share of Ethereum’s total circulating supply, yet mounting unrealized losses reflect challenging market conditions for major institutional holders.
