BitMine Tops 5 Million ETH After Largest 2026 Weekly Buy

BitMine Immersion Technologies reported Monday that it purchased 101,901 ETH in the past week, bringing its total holdings to 5,078,386 ETH, a stake currently valued at about $11.75 billion.

The weekly total included a 10,000 ETH over-the-counter sale from the Ethereum Foundation finalized Friday at an average price of $2,387 per ETH, valuing that portion at roughly $23.87 million. Ethereum traded near $2,313–$2,315 on Monday. The token has risen about 16% over the last 30 days but remains more than 50% below its August 2025 high of $4,946.

The 101,901 ETH purchase edged the prior week’s 101,627 ETH and is the largest single-week accumulation by the firm so far in 2026. BitMine said it reached the 5 million-ETH level after roughly 10 months of accumulation and remains the largest public holder of Ethereum by treasury size.

“This is a major milestone as the company moves to acquire 5% of the ETH supply,” Tom Lee, BitMine chairman, said in a statement.

Lee referenced recent research describing ETH as a store of value and a collateral asset in digital-asset finance, and he cited data showing ETH’s performance relative to the S&P 500 since the Iran War began.

BitMine’s shares (BMNR) fell about 0.3% to $22.08 on Monday. Company executives cited Ethereum’s uses in finance and decentralized applications as reasons for the firm’s continued accumulation.