Bitmine Immersion Technologies continues to aggressively expand its Ethereum holdings. The company purchased another 53,501 ETH for approximately $131.3 million, accelerating its accumulation pace for the second consecutive week.
Following the latest purchase, Bitmine’s total Ethereum holdings reached 5,901,112 ETH. At an Ether price of around $2,455, the position is valued at approximately $14.5 billion.
The company is steadily approaching its key target of owning roughly 5% of Ethereum’s total supply. Its current holdings already represent about 4.9% of ETH in circulation.
Bitmine Is About 134,000 ETH Away From Its 5% Target
Ethereum’s total supply is estimated at approximately 120.7 million ETH. A 5% share therefore corresponds to around 6.04 million ETH.
Based on its current holdings, Bitmine is short by roughly 134,000 ETH from reaching that threshold.
The latest purchases show that Bitmine has once again accelerated its Ethereum accumulation after a period of more moderate activity. In July and August, the company’s weekly purchases fell below 10,000 ETH on several occasions.
However, over the past two weeks, Bitmine has acquired a total of 85,948 ETH. The company added 32,447 ETH to its reserves the previous week, followed by the latest purchase of 53,501 ETH.
Tom Lee Links New Purchases to Strong Crypto Market Performance
Bitmine Chairman Tom Lee attributed the renewed buying activity to the strong performance of the cryptocurrency market during the third quarter.
According to data cited by the company, Ethereum gained approximately 55% in August, while Bitcoin rose by around 34%. Both major crypto assets significantly outperformed leading U.S. stock market indexes over the same period.
Lee believes that such outperformance by digital assets compared with other macro assets could attract additional attention from institutional investors.
In his view, the strong performance of cryptocurrencies creates conditions in which major institutions may begin increasing the share of digital assets in their investment portfolios.
U.S. Regulation Could Become Another Catalyst
Bitmine also sees changes in U.S. cryptocurrency regulation as a potential driver of further market growth.
Tom Lee pointed to the possible advancement of legislation governing the structure of the crypto market. Such initiatives could provide greater legal certainty for institutional participants and make it easier to integrate digital assets into the traditional financial systеm.
Lee also highlighted renewed demand from investors in South Korea, who have historically played a significant role in global cryptocurrency trading activity.
Growing institutional and international demand could support Ethereum market liquidity and strengthen interest in ETH as a long-term reserve asset.
Bitmine Is Betting on Tokenization and Artificial Intelligence
Over the longer term, the company believes Ethereum’s potential extends beyond the growth of the cryptocurrency market itself and includes broader blockchain adoption across other industries.
One of the key areas is the tokenization of real-world and financial assets. As stocks, bonds, funds, and other instruments move onto blockchain networks, demand for settlement infrastructure and smart contract execution could increase.
Bitmine also views the development of artificial intelligence as another potential growth driver. In the future, autonomous AI agents could use blockchain networks for payments, settlements, digital asset management, and programmable financial transactions.
Ethereum, with its mature smart contract ecosystem, could benefit from both of these trends.
Bitmine Has Been Accumulating Ethereum for 65 Consecutive Weeks
The company began implementing its Ethereum-focused treasury strategy in June 2025. Since then, Bitmine has purchased ETH for 65 consecutive weeks.
This strategy has helped transform the company into one of the largest corporate holders of Ethereum, using the cryptocurrency not only as a reserve asset but also as a source of additional yield.
A large portion of Bitmine’s ETH holdings has been allocated to staking. The company currently has around 5.07 million ETH staked, representing approximately 86% of its total position.
Staking Could Generate Around $335 Million Per Year
In addition to potential appreciation in Ethereum’s price, Bitmine earns income by participating in the network’s Proof-of-Stake mechanism.
At current staking yields, the company expects to generate approximately $335 million in annual income from its ETH holdings.
Bitmine’s strategy therefore combines two main elements: continued Ethereum accumulation and recurring yield from assets it already owns.
If the company maintains its current purchasing pace, reaching the milestone of 5% of Ethereum’s total supply could become the next major stage of its treasury strategy. At the same time, the large amount of ETH committed to staking makes Bitmine a significant participant not only in the Ethereum market but also in the network’s security infrastructure.