BitMine Adds 28,086 ETH as Treasury Nears 5% of Supply

BitMine Immersion Technologies added 28,086 ETH over the past week, lifting its treasury to 5,929,198 ETH as the company approached its target of owning 5% of Ethereum’s supply.

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

For shareholders, the purchase increased BitMine’s exposure to ETH, but its aggregate reported holdings value rose by only $100 million from the prior 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. Those totals are market-value snapshots rather than measures of what BitMine paid for its assets.

Market Value Versus Cost

The latest disclosure did not provide an updated average ETH acquisition price. As a result, the $14.79 billion valuation cannot be directly compared with BitMine’s aggregate cost basis from the release alone.

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

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

BitMine has continued adding ETH while slowing purchases near its stated 5% target. In July, The Defiant reported that the company held 5,742,237 ETH, then equal to about 4.8% of circulating supply.

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