Bitmine acquires 28,086 ETH, reaches 97% of its 5% supply accumulation goal
Bitmine bought 28,086 ETH and now holds 97% of its target to accumulate 5% of Ether's total supply.
Why it matters
If confirmed, Bitmine's near-completion of a goal to hold 5% of all Ether supply would make it by far the largest single corporate holder of ETH. The $5.1 billion in unrealized losses also underscores the financial risk of large-scale corporate crypto treasury strategies during periods of price decline. Significance is limited given only one outlet has reported this.
Key facts
Bitmine acquired 28,086 ETH, currently worth about $69.5 million.
28,086 ETHReported by Cointelegraph
Bitmine's total ETH holdings now stand at 5.93 million ETH at an average price of $2,495 per ETH.
5,930,000 ETHReported by Cointelegraph
Bitmine has completed 97% of its goal to acquire 5% of total Ether supply within 15 months.
97 %Reported by Cointelegraph
Bitmine reported total assets of $15.7 billion.
15,700,000,000 USDReported by Cointelegraph
The company holds 5.1 million staked ETH expected to generate $330 million in annualized staking revenue.
330,000,000 USDReported by Cointelegraph
Bitmine faces $5.1 billion in unrealized losses on its ETH holdings, according to Dropstab data cited by Cointelegraph.
5,100,000,000 USDReported by Cointelegraph
Ether's price fell 16% since the beginning of 2026 and was trading at $2,469 at the time of reporting.
16 %Reported by Cointelegraph
Bitmine announced a separate 53,501 ETH acquisition previously, which pushed its holdings to 4.9% of Ethereum's 120.7 million circulating supply.
53,501 ETHReported by Cointelegraph
What happened
Bitmine Immersion Technologies, described by Cointelegraph as the largest publicly listed Ether treasury holder, announced it acquired 28,086 ETH last week for approximately $69.5 million. The purchase brings its total holdings to 5.93 million ETH at an average acquisition price of $2,495 per ETH. The company, led by chairman Tom Lee, said it has completed 97% of its stated goal of accumulating 5% of the total Ether supply within 15 months. Cointelegraph also reported that Bitmine separately announced a 53,501 ETH acquisition previously, which pushed its holdings to 4.9% of Ethereum's 120.7 million circulating supply. The company reported total assets of $15.7 billion, including 5.1 million staked ETH expected to generate $330 million in annualized staking revenue. However, Cointelegraph noted that Bitmine faces $5.1 billion in unrealized losses on its ETH holdings, with Ether's price having fallen 16% since the start of 2026.
How the story developed
- First report
First report by Cointelegraph
Bitmine buys 28k ETH, completes 97% of treasury accumulation goal
- Update
Bitmine announces 53,501 ETH acquisition, pushing holdings to 4.9% of circulating supply
The company previously announced a 53,501 ETH purchase.
- Update
Bitmine announces 28,086 ETH purchase and reports 97% completion of 5% supply goal
Cointelegraph reported the Tuesday announcement of the latest acquisition.
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Cointelegraph Crypto media | Bitmine buys 28k ETH, completes 97% of treasury accumulation goal | Original |
Related events
Grayscale Announces 3-for-1 Share Split for Zcash ETF ZCSH
Grayscale is splitting its Zcash ETF shares three-for-one effective September 30 after the fund approached $1 billion in assets within weeks of launch.
NYSE Parent ICE Evaluates Avalanche to Power 24/7 Tokenized Stock Trading Platform
NYSE parent ICE is evaluating Avalanche blockchain to run a planned 24/7 tokenized securities settlement platform, but says no final choice has been made.
