Bitmine Buys 32,447 ETH, Pushing Holdings to 5.85 Million Tokens

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• BitMine Immersion Technologies now holds 5,847,611 ETH, worth roughly $14.3 billion and equal to 4.8% of Ethereum’s total supply, putting it 97% of the way to its self-set goal of owning 5%.
• The company added 32,447 ETH last week, more than three times its average weekly purchase over the prior three weeks.
• The acceleration landed in the same week Ethereum posted its largest weekly price gain since May 2025.

BitMine Immersion Technologies added 32,447 ETH last week, pushing its Ethereum treasury to 5,847,611 tokens, the company said Monday. At the release’s reference price of $2,440, that stake is worth about $14.3 billion.

The size of the purchase matters more than the total. Over the three weeks before this one, BitMine’s weekly additions ran 10,399, then 7,425, then 9,926 ETH, a pace of roughly 9,250 tokens a week. Last week’s 32,447-ETH purchase is more than triple that average, a sharp break from a two-month stretch of comparatively modest weekly buying.

The jump came as Ethereum itself moved sharply. BitMine chairman Tom Lee said in the release:

“ETH gained 30% in the past week. This is the largest weekly gain since May 2025.”

As of 12:29 UTC on Aug. 24, 2026, Ethereum was trading at $2,492.69, up 2.89% over the previous 24 hours. Its market capitalization stood at $300.49 billion, while 24-hour trading volume reached $19.84 billion, up 32.52%. The volume-to-market-cap ratio was 6.6%, and Ethereum’s fully diluted valuation was also $300.49 billion. Total and circulating supply stood at 120.68 million ETH, with no maximum supply limit.

Independent market coverage backs that up. Ether traded near $2,250 on Aug. 20 as bitcoin topped $69,000 in a broad rally, and multiple outlets separately clocked Ethereum’s weekly gain at close to 30%. BitMine, rather than pulling back or holding its recent pace as it closed in on its target, bought heavily into that strength. That cuts against speculation that had circulated just days earlier about whether BitMine would taper its purchases as it neared the 5% mark.

A treasury that also refilled its cash

BitMine’s cash and marketable securities stood at just $78 million as of its Aug. 17 update, down from $482 million five weeks earlier, after months of ETH buying alongside share buybacks under a $4 billion repurchase program. In this week’s release, that figure rebounded to $308 million, a jump of $230 million, even after funding both the ETH purchase and continued buybacks.

BitMine did not disclose in this release how that cash was replenished. The company routinely funds purchases through a large at-the-market common stock program, but no specific new capital raise dated to the Aug. 17 to Aug. 24 window could be confirmed in the company’s own filings or press releases. The mechanism behind this particular week’s rebound is, for now, unconfirmed.

BitMine Closes In on Its 5% Ethereum Goal

BitMine also holds 5,067,309 ETH in staking, generating a projected $330 million in annualized revenue, a figure the company expects to reach $381 million once fully deployed. Hitting the 5% target outright would require roughly 186,000 more ETH at current supply levels, well within range if last week’s pace holds rather than reverts to the slower one it just broke.