BitMine Buys More Than 100,000 ETH in Biggest Weekly Addition of 2026

Bitmine has emerged as one of the largest corporate holders of ether, using its balance sheet to pursue a digital-asset treasury strategy under Chairman Tom Lee. The company now controls about 4.9% of Ethereum’s supply, making its purchases a closely watched gauge of institutional demand. Its growing position also underscores the increasing concentration of ETH in corporate treasuries as public companies seek leveraged exposure to cryptocurrency prices.

Bitmine added nearly 10,000 ETH last week, lifting its holdings to about 5.79 million tokens. In an earlier weekly purchase, the company spent $131 million on 53,501 ETH, its largest acquisition since June. Lee said the ETH/BTC ratio had reached a three-month high while ether outperformed bitcoin, signals he views as evidence of strengthening market momentum. Bitmine shares also surged 43% over the past month as investor interest in crypto-linked equities increased.

BitMine Immersion Technologies, led by Tom Lee, has positioned itself as the world’s largest publicly traded Ethereum treasury by making ETH accumulation a central balance-sheet strategy. Its holdings now exceed 4.8% of the token’s circulating supply, giving the company an unusually large exposure to Ether and making its purchases a closely watched gauge of institutional demand and available market liquidity.

In its latest disclosures, BitMine acquired about 10,460 ETH through FalconX for nearly $19.48 million. The company also reported adding 7,391 Ether over the most recent week, lifting total holdings to roughly 5.81 million ETH. Separately, it repurchased 4.5 million shares and later bought another $14 million of Ethereum, while its cash balance declined to $104 million.

Bitmine Immersion Technologies, chaired by Tom Lee, has purchased ether every week since launching its ETH treasury strategy on June 30, 2025. The company is pursuing its “Alchemy of 5%” target, seeking to control 5% of Ethereum’s supply. With total crypto and cash holdings of about $11.5 billion and roughly 85% of its ETH staked for yield, the share repurchases mark a shift toward balancing treasury expansion with returns to shareholders.

On July 20, Bitmine said it added just 7,430 ETH, worth about $14 million, during the prior week, lifting its holdings to 5,777,468 ETH. It simultaneously spent about $86 million to repurchase 5.5 million shares at an average $15.62 each. A July 27 update showed purchases recovering to 9,946 ETH, taking the treasury to 5,787,414 ETH, while weekly buybacks rose to 6.1 million shares and cumulative repurchases reached 11.6 million.

BitMine has made Ethereum (ETH) its primary treasury asset, using continued purchases and staking to build the world’s largest Ethereum treasury. Its long-term goal is to hold close to 5% of ETH’s circulating supply. Chief Executive Tom Lee believes the Ethereum network’s applications and yield-generating capacity remain supportive, and that short-term price volatility does not alter the company’s strategy.

In the week through July 19, 2026, BitMine deployed about $92 million during a market decline to buy an additional 127,000 ETH, raising its total holdings to 5.54 million ETH. About 4.72 million ETH had been staked to earn an annualized yield. Lee described the recent selling pressure as a “surface phenomenon” unrelated to fundamentals.

BitMine is the world’s largest corporate Ethereum treasury holder and has made accumulating and staking ETH central to its asset strategy. The company aims to hold 5% of Ethereum’s total supply and is now closing in on that threshold, making its moves consequential for market liquidity, corporate crypto allocations and the Ethereum staking ecosystem.

In the latest week, BitMine bought another 76,000 ETH, lifting its holdings to 5.62 million ETH, or about 4.66% of total supply. Its treasury value at one point approached or exceeded $10 billion. The company also raised $270 million through a preferred-stock offering during the same period and staked more than 83% of its holdings. Subsequent reports showed its position had risen further to about 5.7 million ETH, worth approximately $8.9 billion.

BitMine Immersion Technologies, a publicly traded U.S. crypto treasury company, has continued adding Ether to its corporate assets. Its holdings are closing in on a target of 5% of Ethereum’s circulating supply, potentially giving a single company control over a substantial share of the token supply while allowing it to generate cash flow through staking. The strategy has drawn market attention.

According to its latest announcement, BitMine spent $237 million to buy about 110,000 ETH last week, lifting its total holdings to 5.39 million ETH, or about 4.4% of circulating supply. The company has staked about 4.7 million ETH through its MAVAN network, which it estimates could generate more than $276 million in annual cash flow. A more recent report said its holdings had surpassed 5.54 million ETH as it advances toward its 5% target by year-end.

Bitmine, led by Fundstrat co-founder Tom Lee, has adopted an “Ethereum MicroStrategy” strategy that makes Ether a core corporate reserve asset. Its long-term goal is to hold 5% of the circulating supply. The concentrated buying is affecting ETH supply and demand and reflects a new trend of listed companies using crypto assets to strengthen their balance sheets.

As of mid-July 2026, Bitmine had spent about $53 million to buy roughly 26,500 ETH in the previous week, well below its earlier pace of about 100,000 tokens per week. The company has bought more than 1 million ETH since the start of the year and now holds about 5.2 million, representing 4.31% of Ether’s circulating supply. Lee expects it to reach the 5% target by December.

Bitmine is an Ethereum treasury company whose core strategy is to hold ETH on its corporate balance sheet and steadily increase its exposure to the Ethereum ecosystem. Its holdings already exceed 4% of ETH’s total supply. Such large purchases reflect the institution’s view of the cryptocurrency’s price and could also affect market supply and demand as well as investor sentiment.

Bitmine bought 71,672 ETH last week as the cryptocurrency fell below $2,200, sharply increasing its purchases from the previous week. Its latest holdings surpassed 5.27 million ETH, or about 4.37% of total supply, closing in on its 5% target. Analyst Tom Lee called the pullback an attractive entry opportunity and said rising oil prices could weigh on cryptocurrency prices.

BitMine is an investment firm with an aggressive Ethereum strategy, earning it a reputation in the market as a leading crypto bull for repeatedly buying dips. With cryptocurrency prices volatile and investor risk appetite fluctuating, its capital movements are closely watched as a gauge of institutional confidence and medium- to long-term demand for ETH.

As of July 20, 2026, on-chain data showed that BitMine had accumulated 45,000 ETH through custody platform BitGo, worth nearly $100 million in total and acquired at an average price of about $2,222 per token. The nearly $100 million buying spree shows that large institutions have not stopped adding to their holdings despite market volatility.

BitMine Immersion Technologies is a publicly listed U.S. digital-asset treasury company whose core strategy is to accumulate ETH over the long term, with a target of holding 5% of Ethereum’s total supply. Its latest indirect investment in privately held OpenAI through Eightco shows that the company is deploying capital across two major growth themes: blockchain and artificial intelligence.

BitMine said on March 16, 2026, that it had added 60,999 ETH in the week through March 15, raising its total holdings to 4,595,562 ETH, or 3.81% of total supply. Of that amount, 3,040,515 ETH had been staked. The company also invested an additional $80 million in Eightco to support its $50 million acquisition of OpenAI equity.