Bitmine Immersion Technologies’ Ethereum buying spree shows no signs of slowing down. Over the past week leading up to the close on September 13, 2026, the company completed the purchase of an additional 27,180 ETH, raising its total treasury holdings to 5,956,378 ETH. Based on Coinbase’s benchmark trading price of $2,513 per coin, Bitmine’s crypto reserves are now valued at nearly $15 billion.
This 5.95 million ETH stash accounts for 4.9% of Ethereum’s total circulating supply, which currently stands at 122 million tokens. That level of accumulation puts Bitmine 98% of the way toward reaching its strategic target of absorbing a full 5% of all Ethereum worldwide.
Hundreds of Thousands of Tokens Bought Since July
This week’s purchase of 27,180 ETH serves as a direct continuation of the 28,086 ETH acquired the previous week. Looking back to July 2026, when Bitmine’s treasury stood at 5.74 million ETH (or 4.8% of circulating supply), the company has absorbed more than 214,000 additional tokens directly from the open market.
Responding to this accumulation streak, Bitmine Chairman Tom Lee stated that his company’s token accumulation track record is unmatched by any public entity in the world today. This steady buying wave is driven by market expectations of a year-end price rally. Lee projects an upcoming price surge rooted in two major catalysts: growing regulatory clarity for digital assets in the United States and a broader influx of institutional demand.
Why Is the Majority of Their Holdings Locked Up?
Despite being worth tens of billions of dollars, these millions of coins are not simply sitting idle in storage wallets. As of September 7, 2026, Bitmine management had placed 5,067,309 ETH into staking protocols, representing roughly 85% of their total portfolio, valued at $12.7 billion. With an average seven-day annualized yield of 2.62%, this staked portion is estimated to generate $334 million in annual cash revenue.
For crypto market participants, the maneuvering of a single entity controlling 4.9% of the supply showcases the institutional playbook on the Ethereum network. Rather than planning to sell, they prefer to lock up the majority of their coins to harvest long-term yields - a securing tactic that limits token liquidity on the open market while generating cash flow directly from blockchain operations.
Source: crypto.news.
Read also: How Crypto Staking Works and Its Risks
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
