Bitmine Immersion Technologies Expands Ethereum Holdings to 5.98 Million Tokens

Bitmine Immersion Technologies, Inc. (NYSE: BMNR) has revealed that its Ethereum holdings have surged to 5,983,940 tokens, equivalent to approximately 4.9% of the total circulating supply of 122.1 million ETH. This strategic accumulation is part of Bitmine's broader investment strategy, which also includes Bitcoin and cash reserves, bringing the company's total asset value to $17.1 billion.

In a recent acquisition, Bitmine purchased 27,562 ETH for $75 million, marking a significant step towards its goal of owning 5% of all circulating Ethereum. The company has been executing weekly purchases since launching its Ethereum treasury strategy on June 30, 2025, primarily through over-the-counter transactions.

Chairman Thomas “Tom” Lee emphasized the company's commitment to accumulating Ethereum, noting that they are 98% of the way to their target. He also highlighted the importance of staking, with approximately 85% of Bitmine's ETH holdings actively staked on the network, generating projected annual revenues of around $357 million.

Lee believes that a shift in institutional investment towards cryptocurrencies is imminent, particularly as regulatory frameworks in the United States continue to evolve. He anticipates that institutions will increase their exposure to digital assets in the final months of 2026, potentially boosting Ethereum's market performance.

New Developments in Bitmine's Ethereum Holdings

• BitMine has acquired an additional 27,562 ether, bringing its total to 5.98 million tokens, valued at approximately $16.3 billion.
• The company has been purchasing ether weekly since June 30, 2025, and claims to be 98% of the way to owning 5% of the total ether supply.
• As of September 21, 2026, BitMine's total crypto holdings are valued at $17.1 billion, including 5,983,940 ETH, 212 BTC, and stakes in Beast Industries and Eightco Holdings.
• Despite its significant holdings, BitMine is still about 121,000 ether short of its 5% ownership goal due to the continuous minting of new ether.
• Tom Lee predicts that institutional investors will increase their crypto exposure significantly in the last quarter of 2026, as they remain underweight in the asset class.
• As of the latest update, ether was trading at approximately $2,734, reflecting a 6% increase in the past 24 hours.