Bitmine Expands Its Ethereum Treasury
Bitmine Immersion Technologies has accelerated its Ether accumulation for a second consecutive week, purchasing 53,501 ETH in its largest single Ether acquisition since June.
The purchase was worth approximately $131.3 million based on an Ether price of about $2,455 at the time cited in the report. It followed Bitmine’s acquisition of 32,447 ETH during the previous week and pushed the company’s total Ethereum holdings to 5,901,112 ETH.
At the reported market price, Bitmine’s Ether treasury is worth approximately $14.5 billion. The company’s renewed buying comes after a period in which its weekly purchases slowed as it approached its target of controlling 5% of Ethereum’s total supply.
Bitmine Moves Closer to Its 5% Ethereum Target
Bitmine currently holds approximately 4.9% of Ethereum’s 120.7 million ETH supply.
Based on the supply figure in the source material, owning 5% would require roughly 6.04 million ETH. That leaves Bitmine approximately 134,000 ETH short of its stated target.
The pace of accumulation had previously moderated. During July and August, the company bought fewer than 10,000 ETH in several individual weeks as its holdings moved closer to the 5% threshold.
The latest purchase represents a notable acceleration. Bitmine has now acquired ETH for 65 consecutive weeks since launching its Ethereum treasury strategy in June 2025.
Tom Lee Sees Institutional Potential in Crypto’s Q3 Performance
Bitmine Chairman Tom Lee linked the renewed accumulation to the broader performance of cryptocurrency markets during the third quarter.
According to the source material, Ether had gained approximately 55% in August, while Bitcoin advanced about 34%, with both assets outperforming major U.S. stock indexes during the period.
Lee said the strong performance could encourage institutional investors to increase their cryptocurrency exposure.
“We believe this sets the stage for institutions to add to their crypto holdings given the substantial outperformance of crypto versus other macro assets in 3Q so far,” Lee said.
Bitmine’s corporate announcements and treasury developments can be followed through the company’s official investor and corporate information.
September Policy Decisions Could Influence Crypto
Lee also identified several potential catalysts that could shape the cryptocurrency market later in the year.
One is a potential U.S. market-structure bill vote in September. Such legislation could influence how digital assets are regulated in the United States and potentially provide greater clarity for market participants.
Lee also pointed to renewed cryptocurrency demand from South Korean investors as another factor that could support the market.
Beyond near-term market developments, he expects tokenization and blockchain applications involving AI agents to provide longer-term support for Ethereum.
These themes extend beyond Ether as a speculative asset. Tokenization involves representing traditional assets such as securities or other financial instruments on blockchain networks, while AI-agent applications could use blockchain infrastructure for automated transactions and financial activity.
Bitmine Has Staked Most of Its Ether
Bitmine is not simply holding its Ethereum inventory in reserve. The company has also committed a substantial portion of its holdings to staking.
Approximately 5.07 million ETH, representing about 86% of Bitmine’s total holdings, has been staked, according to the source material.
At current staking yields, Bitmine projects approximately $335 million in annualized staking revenue.
Ethereum staking allows ETH holders to participate in securing the network through its proof-of-stake consensus mechanism. In return, eligible staked ETH can generate protocol rewards, although the actual amount earned can vary with network conditions and other factors.
Bitmine’s large staking position therefore adds another component to its Ethereum treasury strategy, combining exposure to ETH’s market value with potential staking income.
Ethereum Treasury Strategy Continues to Grow
The latest acquisition demonstrates that Bitmine remains committed to expanding its Ethereum position even after reaching the final stages of its 5% accumulation target.
The company now controls 5,901,112 ETH, placing it only about 134,000 ETH away from the approximately 6.04 million ETH needed to represent 5% of the supply cited in the report.
The renewed buying also comes during a period of strong crypto market performance. Ether’s reported 55% August gain and Bitcoin’s 34% increase have given corporate treasury strategies additional attention as companies seek exposure to digital assets.
Bitmine’s strategy combines large-scale ETH accumulation with staking, while Chairman Tom Lee is looking beyond current market performance toward institutional adoption, tokenization and blockchain-based AI applications.
For now, the company’s next milestone is clear: closing the remaining gap toward its 5% Ethereum ownership target.
