Key Highlights
- BitMine bought 27,180 ETH, taking its total holdings to 5.96 million ETH, or about 4.9% of Ethereum’s supply.
- The company is 98% toward its 5% Ethereum target, needing roughly 144,000 more ETH to reach it.
- BitMine has continued buying ETH every week since June 2025, while holding more than 5 million ETH in staking.
Bitmine Immersion Technologies (BMNR) said it has bought another 27,180 ETH, taking its total Ethereum holdings to 5,956,378 ETH as it moves closer to its goal of holding 5% of Ethereum’s total supply.
According to the company’s September 14 press release, the purchase was made over the past week.
Chairman Tom Lee also pointed to the coming Clarity Act vote and other market developments as possible reasons for stronger crypto activity toward the end of 2026.
This new purchase was worth about $68 million based on an ETH price of just above $2,500 as of September 14 (2:36 PM UTC). In short, with Ethereum’s total supply at around 122 million ETH, BitMine now holds about 4.9% of the supply.
The company said it is 98% of the way toward its 5% target, which would require about 6.1 million ETH. This means BitMine needs roughly another 144,000 ETH to reach the goal.
The company keeps buying ETH every week
The new purchase also keeps BitMine’s weekly buying streak alive. The company has bought ETH every week since it started its Ethereum Treasury Strategy on June 30, 2025. On September 8, it added another 28,086 ETH, showing that its latest purchase is close to the pace it has maintained in recent weeks.
Tom Lee said BitMine’s steady purchase continued throughout the strategy. “Bitmine has bought ETH each and every week since the inception of the ETH Treasury Strategy on June 30, 2025,” he said.
More than 5 million ETH is now staked
BitMine is also holding a large amount of its ETH in staking. As of September 13, the company had 5,067,309 ETH staked, worth about $12.7 billion at an ETH price of $2,513.
Ethereum staking involves committing ETH through validators to help secure the network while earning staking rewards. BitMine said the amount could rise as more of its ETH becomes fully staked through MAVAN and its staking partners.
Tom Lee sees more crypto activity ahead
The new purchase also comes as Lee is watching several signs across the crypto market. In the press release, he said the ETH-BTC ratio, which compares Ethereum’s value with Bitcoin, reached its highest level since January 30 and broke a trendline that had been in place since the COVID-19 highs.
Lee linked Ethereum’s stronger position to the growth of tokenization on Wall Street and the possible use of Ethereum in agentic artificial intelligence.
He also pointed to the expected Senate vote on the Clarity Act, a U.S. bill focused on rules for the crypto market. Lee sees the vote as one of several possible positive events for crypto heading into the end of the year. He also said Korean investors have started buying crypto again while moving away from AI stocks.
“The 4-year cycle is bottoming within the next few weeks in our view,” Lee said. He added that this could create room for larger institutional buying during the final months of 2026.
BitMine advisor Tom DeMark also expects Ethereum to make a sharp move in the coming weeks. He noted that ETH moved sideways through August without breaking lower, which he believes could support renewed upward movement.
BitMine shares remain higher over the past month
Meanwhile, BMNR shares did not react much to the release. At the time of reporting, BMNR is trading for $25.07, up a modest 0.40% within the last 24 hours, according to data from Robinhood.
This has pushed its market value to around $15.15 billion in value, with an average volume of 42.22 million shares.
BitMine also said ETH was the best-performing macro asset in the third quarter through September 11, outperforming the S&P 500 by 5,866 basis points. The company said ETH, Solana and Bitcoin were the three best-performing assets since June 30.
Also Read: Michael Saylor’s Strategy Buys Back $139M in STRC, Skips Bitcoin Purchase
