Bitmine Buys 28,086 ETH, Hits 97% of 5% Treasury Goal

Bitmine Immersion Technologies purchased 28,086 Ether (ETH) last week, a transaction the company disclosed on Tuesday. The acquisition, valued at about $69.5 million, raises Bitmine’s total holdings to roughly 5.93 million ETH and places the firm at about 97% of its target to accumulate 5% of Ethereum’s circulating supply of roughly 120.7 million coins within 15 months. The company reported an average acquisition price across its Ether position of about $2,495 per ETH.

The company said the purchase follows a separate 53,501 ETH buy reported earlier in the same period. Bitmine reported total assets of $15.7 billion, which include $593 million in marketable securities, cash and other crypto assets, and about 5.1 million ETH that the firm has staked. Bitmine expects the staked Ether to generate roughly $330 million in annualized staking revenue.

Analytics data show the company is carrying about $5.1 billion in unrealized losses on its ETH position. Market data show Ether’s price has fallen about 16% since the start of 2026 and was trading near $2,469 at midweek. Bitmine’s New York Stock Exchange-listed shares, under the ticker BMNR, opened more than 2% lower on Tuesday and have extended a year-to-date decline into double digits.

Company disclosures describe the recent purchases as part of an ongoing accumulation program. Bitmine now holds a mix of liquid and staked Ether built through multiple transactions over recent weeks to meet the percentage-of-supply target set by management. Staked holdings make up the majority of the firm’s Ether balance and are expected to provide recurring staking revenue if current yields continue.

Bitmine is chaired by Tom Lee and is the largest publicly listed Ether treasury.