BitMine Adds 28,086 ETH, Closing In on 5% Ethereum Supply Target
BitMine has increased its Ethereum holdings by acquiring 28,086 ether, bringing its total to 5,929,198 ETH, which is valued at roughly $14.8 billion based on the September 7 price of $2,495 per token. This acquisition, revealed on Tuesday, means BitMine is still 171,000 ETH away from its target of possessing 5% of Ethereum's total supply of 122 million. At the current rate of purchases, it could achieve this goal within approximately six weeks. This latest acquisition is less than the previous purchase of 53,501 ETH. As of September 7, BitMine has staked 5,067,309 ETH valued at about $12.6 billion, with total assets, including 211 BTC and $593 million in cash, reaching around $15.7 billion. Chairman Tom Lee expresses confidence in Ethereum's future.
Key facts
- BitMine purchased 28,086 ETH, bringing holdings to 5,929,198 ETH worth about $14.8 billion at a $2,495 reference price on Sept. 7.
- The company now controls roughly 4.9% of Ethereum's 122 million supply and is about 171,000 ETH from its 5% goal.
- At its recent weekly buying rate, BitMine could reach 5% in roughly six weeks.
- BitMine has bought ETH every week since launching its treasury strategy on June 30, 2025.
- As of Sept. 7, BitMine had 5,067,309 ETH staked, about 85% of its treasury, worth roughly $12.6 billion.
- Staking could generate about $330 million in annualized revenue at a 2.61% seven-day yield, or $386 million if fully staked via MAVAN.
- BitMine's other assets include 211 BTC, $593 million in cash and securities, a $180 million stake in Beast Industries, and $91 million in Eightco Holdings, totaling about $15.7 billion.
- Chairman Tom Lee noted Ethereum outperformed the S&P 500 by 54.3 percentage points from June 30 to Sept. 4.
Entities
Artists
- Tom Lee
- Tom DeMark
Institutions
- BitMine
- DeMark Analytics
- Beast Industries
- Eightco Holdings
- Strategy
- Strive
- SharpLink
- Lido
- MAVAN
- Made in America VAlidator Network
- S&P 500
- Russell 1000
- NFT Plazas
- Myriad
- CoinMarketCap
- Fundstrat
- SharpLink Gaming
- Ethlabs
- Bank of England
Locations
- United States
Sources
- NFT Plazas —
- NFT Plazas —