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      BitMine Increases Ethereum Holdings to Nearly 5% of Total Supply

      BitMine Immersion Technologies has acquired an additional 28,086 ETH over the past week, bringing its total treasury to 5,929,198 ETH. This amount represents approximately 4.9% of Ethereum's total supply of 122 million ETH. The company has set a target of owning 5% of the cryptocurrency's supply, and the recent purchase is part of its ongoing strategy to increase its holdings.

      The valuation of BitMine's ETH position is estimated at $14.79 billion, based on a reference price of $2,495 per ETH as of September 7, 2026. Despite the increase in ETH holdings, the overall reported value of BitMine's assets rose by only $100 million from the previous week, totaling $15.7 billion in crypto, cash, marketable securities, and other investments. This figure reflects market values rather than the actual costs incurred by the company for its assets.

      BitMine's chairman, Tom Lee, noted that the company has consistently purchased ETH weekly since initiating its treasury strategy on June 30, 2025. The latest acquisition, while smaller than the 53,501 ETH purchased the week prior, still marks a significant addition compared to earlier weeks. As of September 7, 2026, approximately 85% of BitMine's ETH holdings, or 5,067,309 ETH, were staked, with the company projecting annualized staking revenue of $330 million based on a yield of 2.61%.

      © 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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