Bitmine Buys 28,086 ETH, Treasury Reaches 5.93 Million Tokens and 4.9% of Supply
Bitmine Immersion Technologies purchased 28,086 ETH last week, bringing its Ethereum treasury to 5.93 million tokens worth approximately $14.79 billion and representing 4.9% of the total supply.
Why it matters
Bitmine's accumulation of 5.93 million ETH puts it within reach of its goal of owning 5% of Ethereum's total supply, making it one of the largest institutional holders of the cryptocurrency. The company's weekly buying program since mid-2025 signals sustained institutional demand for ETH, and its $330 million annual staking revenue projection underscores the scale of its staking operations.
Where the sources disagree
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
size of the holdings
$70 million
Decrypt
$91 million
The Defiant
Decrypt reports $70 million, The Defiant reports $91 million (23% apart).
reported value
28,086 ETH
Decrypt
53,501 ETH
CryptoPotato
Decrypt reports 28,086 ETH, CryptoPotato reports 53,501 ETH (48% apart).
Key facts
Bitmine purchased 28,086 ETH last week, bringing its total holdings to 5,929,198 tokens.
28,086 ETHDisputed figureReported by Decrypt
The purchase was valued at approximately $70 million at the company's reference price of $2,495 per token.
70,000,000 USDDisputed figureReported by Decrypt
Bitmine's total holdings of crypto, cash, securities, and other investments reached $15.7 billion.
15,700,000,000 USDReported by Decrypt
Bitmine now owns 4.9% of Ethereum's estimated 122 million-token supply, or 97% of the way to its 5% target.
4.9 %Reported by The Defiant
More than 5.06 million ETH is staked with projected annual staking revenue of $330 million.
5,060,000 ETHReported by Crypto.News
The 28,086 ETH purchase was smaller than the 53,501 ETH purchased the previous week.
53,501 ETHDisputed figureReported by Decrypt
Tom Lee said Ethereum was the best-performing major asset in Q3, outperforming the S&P 500 by 54.3 percentage points.
54.3 percentage pointsReported by Decrypt
Bitmine's aggregate holdings rose by approximately $100 million from $15.6 billion to $15.7 billion.
100,000,000 USDReported by The Defiant
What happened
Bitmine Immersion Technologies (BMNR) acquired 28,086 ETH last week at a reference price of $2,495 per token, extending its weekly buying streak that began when the company launched its Ethereum treasury strategy on June 30, 2025. The purchase brought total ETH holdings to 5,929,198 tokens, representing 4.9% of Ethereum's estimated 122 million-token supply, or 97% of the way to Bitmine's 5% ownership target. The company valued its entire Ethereum position at approximately $14.79 billion, while its aggregate holdings of crypto, cash, marketable securities, and other investments totaled $15.7 billion, up from $15.6 billion a week earlier. Chairman Tom Lee noted that the 28,086 ETH purchase was smaller than the previous week's 53,501 ETH acquisition, and said Ethereum was the best-performing major asset in the third quarter, outperforming the S&P 500 by 54.3 percentage points. Bitmine also disclosed that more than 5.06 million ETH is staked, with projected annual staking revenue of $330 million. Separately, the company disclosed the termination of a staking management agreement with Ethereum Tower LLC on September 4, replacing it with a flat-rate advisory arrangement.
How the story developed
- Update
Bitmine purchases 53,501 ETH in prior week
The previous weekly acquisition exceeded the current week's purchase.
- Official statement
Ethereum Tower LLC management agreement terminated
Bitmine and Ethereum Tower LLC mutually terminated a staking management services agreement that included a revenue participation fee, replacing it with a flat-rate advisory arrangement.
- Update
Bitmine acquires 28,086 ETH, treasury reaches 5.93 million tokens
The company valued the acquisition at approximately $70 million at its $2,495 per-token reference price.
- First report
First report by Decrypt
Tom Lee's Bitmine Adds $70 Million in Ethereum, Holdings Reach 5.93 Million ETH
- Update
Bitmine launches Ethereum treasury strategy
Bitmine began its weekly ETH purchasing program.
- Independent corroboration
Independently corroborated by The Defiant
BitMine Adds 28,086 ETH as Treasury Nears 5% of Supply
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 8 Sept 2026, 15:04 UTC: Decrypt — 1 independent source, 1 reports
- 8 Sept 2026, 15:29 UTC: The Defiant — 2 independent sources, 2 reports
- 8 Sept 2026, 16:59 UTC: CryptoPotato — 3 independent sources, 3 reports
- 8 Sept 2026, 22:00 UTC: Crypto.News — 4 independent sources, 4 reports
Affected entities
Also mentioned: U.S. Securities and Exchange Commission, Strategy (MicroStrategy), Michael Saylor, Cardano, TRON, NYSE, United Arab Emirates
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Decrypt Crypto media | Tom Lee's Bitmine Adds $70 Million in Ethereum, Holdings Reach 5.93 Million ETH | Original | |
| The Defiant Crypto media | BitMine Adds 28,086 ETH as Treasury Nears 5% of Supply | Independent | |
| Crypto.News Crypto media | BitMine buys 28,086 ETH amid Tom Lee’s bullish outlook | Independent | |
| CryptoPotato Crypto media | BitMine Now Holds $15.7 Billion in Various Assets as Massive ETH Buying Spree Continues | Independent |
Related events
Ether and XRP ETFs post outflows as crypto majors move higher
Bitcoin Swings From Sub-$75K to Above $80K as Fed Hikes Rates and Clarity Act Stalls in Senate
Bitcoin fell below $75,000 after the Clarity Act stalled in the Senate, then surged past $80,000 following the Fed's 25-basis-point rate hike and a dovish dot plot.
Bitcoin tops $77K as Bank of Japan raises benchmark rate to 1.25%
Bitcoin rose above $77,400 after the Bank of Japan hiked its policy rate 25 basis points to 1.25% on a 7-2 vote.
Compound Foundation Launches Institutional USDC Lending Market With 87% LTV
Compound Foundation opened an institutional USDC lending market accepting ETH, wstETH, WBTC and cbBTC as collateral at up to 87% loan-to-value.