Bitmine disclosed that it purchased an additional 28,086 ETH last week, equivalent to approximately $70 million at its reference price, bringing its total holdings to 5.93 million ETH. As its Ethereum treasury strategy continues to advance, the company is nearing its goal of holding 5% of Ethereum’s total supply.
Holdings increased to 5.93 million ETH
The company stated that the additional purchase, based on a reference price of $2,495 per ETH, is valued at approximately $70 million, but did not disclose the actual cost of execution. This increase is smaller in scale compared to the 53,501 ETH purchased in the previous week.
Bitmine stated that since launching its ETH treasury strategy on June 30, 2025, the company has been increasing its Ethereum holdings weekly. Chairman Tom Lee said in a statement that the company’s pace of continuous crypto asset purchases on public markets is “unparalleled” among corporate entities.
The combined asset size reaches $15.7 billion.
As of September 7, Bitmine's valuation of its Ethereum holdings was approximately $14.8 billion, with the total combined value of its crypto assets, cash, securities, and other investments amounting to approximately $15.7 billion.
- 5.93 million ETH
- 211 Bitcoin
- $593 million in cash and marketable securities
In addition, the company holds approximately $180 million in shares of Beast Industries and approximately $91 million in shares of Eightco Holdings.
Approximately 85% of holdings have been pledged.
Tom Lee stated that the company has currently staked approximately 5.1 million ETH, accounting for about 85% of its total holdings. Based on current estimates, the annualized staking income is expected to be around $330 million.
While continuing to accumulate ETH, Bitmine has not yet clarified whether it will continue purchasing after reaching the goal of holding 5% of the total supply. Tom Lee previously stated in May that the company would slow its buying pace to avoid reaching this target too soon.
Peer companies are synchronizing their configurations.
As Bitmine continues to increase its holdings weekly, other companies allocating digital assets to their treasuries are adjusting their strategies. Strategy did not purchase any Bitcoin during the week ending September 7, following a prior week in which it bought approximately $370 million in BTC and used $176.3 million to repurchase preferred shares.
Nasdaq-listed asset management firm Strive announced on August 31 that it purchased $143 million in Bitcoin. Ethereum treasury company SharpLink plans to stake $200 million in ETH via Lido to earn staking rewards.
Additional information: The original disclosure states that Bitmine’s merged assets also include equity investments in Beast Industries and Eightco Holdings, which are not cryptocurrency holdings.