BitMine Adds 28,086 ETH, Bringing Treasury Close to 5% of Ethereum Supply

News Editor

2026-09-08 15:29:09

BitMine Immersion Technologies said it added 28,086 ETH over the past week, taking its treasury to 5,929,198 ETH as it moved closer to its stated goal of holding 5% of Ethereum’s supply. In a press release furnished to the U.S. Securities and Exchange Commission, the company valued the position at roughly $14.79 billion using a Coinbase reference price of $2,495 at 2 p.m. ET on Sept. 7. BitMine said the holding represented 4.9% of a 122 million ETH supply. The company’s broader reported asset base, which includes crypto, cash, marketable securities and other investments, rose to $15.7 billion from $15.6 billion on Aug. 31. BitMine also disclosed holdings of 211 BTC, $593 million in cash and marketable securities, a stake in Beast Industries valued at $180 million, and a stake in Eightco Holdings valued at $91 million. The filing did not update BitMine’s average ETH acquisition price, which means the latest market value cannot be directly compared with its cost basis from the release alone. BitMine said 5,067,309 ETH, or about 85% of its ETH holdings, was staked as of Sept. 7. Using a seven-day annualized yield of 2.61%, the company projected annualized staking revenue of $330 million.

BitMine Immersion Technologies added 28,086 ETH over the past week, bringing its treasury to 5,929,198 ETH as it edged closer to its stated target of owning 5% of Ethereum’s supply.

In a press release furnished to the U.S. Securities and Exchange Commission, the company valued that ETH position at about $14.79 billion using a Coinbase reference price of $2,495 at 2 p.m. ET on Sept. 7. BitMine said the holding represented 4.9% of a 122 million ETH supply.

For shareholders, the latest purchase increased the company’s exposure to ETH. Still, BitMine’s aggregate reported holdings value rose by only $100 million from the previous weekly headline figure. The company reported $15.7 billion of crypto, cash, marketable securities and other investments, up from $15.6 billion on Aug. 31. BitMine described those figures as market-value snapshots rather than what it paid to acquire the assets.

Market value does not show acquisition cost

The latest disclosure did not include an updated average ETH acquisition price. That leaves the $14.79 billion valuation unable to be directly compared with BitMine’s aggregate cost basis based on this release alone.

The latest total also included 211 BTC, $593 million in cash and marketable securities, a stake in Beast Industries that BitMine valued at $180 million, and a stake in Eightco Holdings valued at $91 million.

Weekly buying continues, but at a slower pace

The 28,086 ETH addition was smaller than the 53,501 ETH acquired in the previous week. Even so, it was larger than each of the four weekly additions before that. Chairman Tom Lee said BitMine has bought ETH every week since launching its treasury strategy on June 30, 2025.

BitMine has kept adding ETH while slowing the pace of purchases as it nears its stated 5% target. The Defiant reported in July that the company held 5,742,237 ETH at the time, equal to about 4.8% of circulating supply.

Most of the ETH treasury is staked

BitMine also said that 5,067,309 ETH, or about 85% of its holdings, was staked as of Sept. 7. Using a seven-day annualized yield of 2.61%, the company projected $330 million in annualized staking revenue.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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