BitMine acquires 27,562 Ethereum for $75M, pushing total holdings to nearly 5% of circulating supply

BitMine Immersion Technologies just dropped another $75 million on Ethereum, purchasing 27,562 ETH in the week ending September 20, 2026. The NYSE-listed company (ticker: BMNR) now holds a total of 5,983,940 ETH. That’s approximately 4.9% of Ethereum’s entire circulating supply of 122.1 million tokens. Valued at roughly $16.1 billion, BitMine’s Ethereum position makes it the largest corporate holder of ETH in the market. The MicroStrategy playbook, but for Ethereum BitMine launched its Ethereum treasury strategy on June 30, 2025, and has been executing weekly purchases ever since, primarily utilizing over-the-counter channels such as Kraken and FalconX. Chairman Thomas “Tom” Lee noted that the company is now 98% of the way toward its stated goal of owning 5% of all circulating ETH. The purchase price works out to roughly $2,727 per ETH. BitMine’s total asset base, including Bitcoin holdings and cash reserves, now stands at $17.1 billion. What separates BitMine’s approach from a simple buy-and-hold strategy is the staking component. Approximately 85% of its Ethereum holdings, around 5 million ETH, are actively staked on the network. That generates a projected annual revenue of appro...