Key Takeaways
- Bitmine Immersion Technologies now holds over 6 million ETH.
- Tom Lee’s company surpassed that mark after adding over $46 million worth of ether in the last week.
- The company’s ETH stash is now valued above $16 billion.
Bitmine’s ETH Stockpile Grows
The Nasdaq-listed company now holds a total of 6,001,302 ETH valued just above $16 billion at a recent price of $2,681 per coin. Bitmine added 17,362 ETH—more than $46 million worth—over the last week to push its holdings above the 6 million mark.
“Bitmine’s total ETH holdings now exceed 6 million. This is a tremendous achievement, accumulating this total in under 15 months,” said Bitmine Chairman Tom Lee, in a statement. “We are already seeing the synergies and positive network effects from our accumulating nearly 5% of ETH total supply.”
“Moreover, we continue to see affirming signs that a crypto bull market is underway, having started in late June,” he added. “In our view, institutions are still underweight crypto and we expect them to be adding to their exposure in the final months of 2026. With only a little more than a week left in calendar third quarter (3Q26), the outperformance of [ether] as a macro asset continues to strengthen.”
The company inched closer to its long-stated goal of amassing 5% of the total ether supply, now holding over 4.9% of the circulating supply of about 122.087 million ETH. Bitmine also holds 213 bitcoin, about $17.8 million worth, along with $672 million in “total cash and marketable securities,” per press release statements.
Ether has been one of the biggest beneficiaries of the recent crypto market bounceback, with the second-largest cryptocurrency by market cap rising nearly 72% in the last three months compared to a nearly 43% jump for bitcoin.
Bitmine is second only to bitcoin giant Strategy in terms of cryptocurrency treasury company holdings. Strategy also revealed a purchase on Monday, saying it added 1,665 BTC over the last week—about $137.8 million worth. The company now holds 847,666 BTC, currently valued at over $70 billion.
Shares in Bitmine (BMNR) are up about 15% over the last month at a recent price of $27.25, with its six-month rise sitting around 49% as of this writing.
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