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      Bitmine Acquires Additional Ethereum, Approaches 5% Network Ownership

      Bitmine Immersion Technologies has acquired an additional 15,112 Ethereum (ETH), bringing its total holdings to approximately 6.02 million ETH. This latest purchase is part of the company's ongoing strategy to increase its stake in the cryptocurrency, which is now nearing 5% of Ethereum's circulating supply of about 122.1 million ETH.

      The firm, chaired by Tom Lee of Fundstrat, has been consistently purchasing ETH on a weekly basis since launching its treasury program on June 30, 2025. In its previous update for the week ending September 27, 2026, Bitmine reported an acquisition of 17,362 ETH, which had already pushed its holdings to 6,001,302 ETH, equating to 4.9% of the total supply. Lee has emphasized the significance of reaching the 5% ownership threshold, which he believes could enhance network effects and attract more institutional interest in Ethereum.

      As of the latest valuation, Bitmine's Ethereum holdings are estimated at $16.2 billion, based on a reference price of $2,698 per ETH. The company also holds 213 Bitcoin, $672 million in cash and marketable securities, and stakes in other companies, contributing to a total asset value of approximately $17.2 billion. Approximately 5.067 million ETH, or 84% of its total holdings, are staked through Bitmine's MAVAN institutional platform, yielding projected annual rewards of around $358 million.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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