Bitmine buys 15,112 ETH for $41M, nearing 5% treasury target
CIE News ·
Bitmine Immersion Technologies acquired 15,112 ETH for around $41 million. The purchase brings its total to 6,016,414 ETH, representing 4.9% of the supply and 99% of its 5% treasury goal, Decrypt reported.
Bitmine Immersion Technologies purchased 15,112 Ethereum (ETH) for approximately $41 million, according to a report by Decrypt on October 5, 2026. The purchase extends an unbroken weekly buying streak that began on June 30, 2025. Following the acquisition, the company stated that its holdings reached 6,016,414 ETH, valued at around $16.4 billion at a reference price of $2,726 per coin.
The firm stated that its reserve represents 4.9% of the total 122.1 million ETH supply. This puts the company 99% of the way toward its self-described "Alchemy of 5%" target to secure 5% of the network. Chairman Tom Lee stated that a crypto bull market is underway, noting that the firm's stock dropped 3% over the first nine months of 2026 compared to a 10% decline for ETH.
Bitmine's total holdings reached $17.4 billion as of October 3, 2026, which includes 214 Bitcoin (BTC), $643 million in cash and marketable securities, alongside private equity positions. The company also reported staking 5,067,309 ETH—about 84% of its reserve—through its MAVAN platform, generating roughly $363 million in projected annualized revenue.