Bitmine buys $31.9M in Ethereum to reach 6.03M ETH holdings
CIE News ·
Bitmine Immersion Technologies purchased 12,532 ETH over the past week, bringing its holdings to 6,028,946 ETH, or 4.9% of the supply, Decrypt reported.
Bitmine Immersion Technologies acquired 12,532 Ethereum (ETH) over the past week for approximately $31.9 million, bringing its total treasury to 6,028,946 ETH, Decrypt reported on October 12, 2026. The company valued its ETH holdings at $2,544 per token, which now represent 4.9% of the total 122.1 million ETH supply. The purchase followed an acquisition of $41 million worth of ETH the previous week.
Bitmine stated that its total assets—spanning crypto, cash, and investments—stood at $16.2 billion, including 214 Bitcoin (BTC), $612 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings. The firm has staked 5,067,309 ETH, generating an estimated $336 million in annualized staking revenue, according to Chairman Tom Lee.
Lee stated that the company requires roughly 100,000 more ETH to hit its 5% supply target under a strategy called the Alchemy of 5%. Bitmine plans to end its token buying program once that milestone is achieved.