BitMine Immersion now holds nearly 5.8 million ETH after latest purchase

BitMine Immersion Technologies just added another 10,399 ETH to its already staggering pile. The company now holds 5,797,813 ETH total, a figure that represents approximately 4.8% of Ethereum’s entire circulating supply of roughly 120.7 million tokens. If that sounds like a lot, it’s because it is. One publicly traded company controlling nearly one in every twenty Ether tokens is the kind of concentration that would have seemed absurd two years ago. Now it’s just another Monday, er, Tuesday announcement from BitMine. The treasury strategy that keeps on stacking BitMine Immersion (NYSE: BMNR) launched its ETH Treasury Strategy on June 30, 2025, committing to weekly Ethereum purchases as a core component of its corporate balance sheet. The latest acquisition covers the week ending August 2, 2026, and follows the same disciplined, dollar-cost-averaging playbook the company has run for over a year. The approach mirrors what MicroStrategy did for Bitcoin, just applied to the second-largest crypto asset. And much like MicroStrategy’s bet on BTC reshaped how Wall Street thinks about corporate treasuries, BitMine is testing whether a similar thesis works for ETH. Here’s the thing: BitMine ...