Bitmine ETH Holdings Reach 4% of Supply After Big Buy

Bitmine Immersion Technologies pushed its Ethereum holdings above 4% of the total supply after acquiring 71,524 ETH over the past week, the company’s largest weekly purchase since the week of Dec. 22, 2025. The purchase raised Bitmine’s total to about 4.87 million ETH, roughly 81% of the way to a 5% target under its “Alchemy of 5%” treasury plan launched nine months ago.

The company reported the latest buy as its highest weekly accumulation pace since late December 2025. Bitmine has been adding ETH gradually as part of the strategy to reach the stated 5% ownership goal.

Bitmine’s broader balance sheet includes 198 Bitcoin, equity stakes valued at $200 million in Beast Industries and $85 million in Eightco Holdings, and about $719 million in cash. The firm combines traditional assets and crypto holdings while increasing its ETH allocation.

Bitmine Chairman Thomas Lee framed recent ETH gains in the context of the ongoing geopolitical conflict, noting a 17.4% rise in Ethereum since the conflict began. He described Ethereum as a “wartime store of value” and wrote, “Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains.”

Market data showed Ethereum rose more than 7% over the prior 24 hours to trade near $2,369.70 after developments tied to a U.S.-related Hormuz blockade. Bitmine’s shares (BMNR) closed more than 4% higher and added roughly 1% in after-hours trading following the buying update.

Despite the recent price recovery, Bitmine’s crypto holdings remain below their acquisition cost, producing unrealized losses exceeding $6 billion. The company remains on a multi-month accumulation path to reach its 5% ETH supply target.