BitMine Purchases Additional $73 Million Worth of ETH, Raising Its Share of Circulating Supply to 4.8%

marsbitPublished on 2026-07-17Last updated on 2026-07-17

Abstract

BitMine Immersion Technologies (NYSE: BMNR), an Ethereum treasury company chaired by Fundstrat's Tom Lee, purchased an additional 42,197 ETH worth approximately $73 million over the past week. This acquisition brings the company's total ETH holdings to 5,742,237, representing 4.8% of Ethereum's circulating supply. The firm's total crypto and other holdings are valued at $11.1 billion, including its ETH (valued at $1,800 per coin), 206 BTC, a $180 million stake in Beast Industries, and a $71 million stake in Eightco Holdings (NASDAQ: ORBS). It also holds $527 million in cash and marketable securities. Notably, the amount of ETH staked by BitMine remained unchanged at 4,879,157 ETH, despite the overall increase in holdings. The company continues its consistent accumulation strategy, aiming to reach its stated goal of controlling 5% of ETH's total supply.

Author: The Defiant Team

Compiled by: Deep Tide TechFlow

Deep Tide's Insight: BitMine Immersion Technologies (NYSE: BMNR) purchased 42,197 ETH worth approximately $73 million over the past week, bringing its total holdings to 5,742,237 ETH, or 4.8% of Ethereum's circulating supply. This Ethereum treasury company, chaired by Fundstrat's Tom Lee, is steadily progressing towards its stated target of holding 5% of the supply with its consistent weekly accumulation strategy.

Accumulates $73 Million Worth of ETH in One Week

BitMine Immersion Technologies (NYSE: BMNR), the Ethereum treasury company chaired by Fundstrat's chairman Tom Lee, purchased 42,197 ETH worth approximately $73 million in the past week. According to the company's Monday holdings update, this accumulation increased BitMine's total ETH holdings to 5,742,237 ETH, representing about 4.8% of Ethereum's circulating supply.

BitMine's official account disclosed that the company's total crypto and other holdings are valued at $11.1 billion. This includes its ETH holdings valued at $1,800 per token, 206 BTC, a $180 million equity stake in Beast Industries, and a $71 million equity stake in Eightco Holdings (NASDAQ: ORBS). The company also holds $527 million in cash and marketable securities.

Staked Holdings Unchanged

Notably, BitMine's total staked ETH amount is 4,879,157 ETH, unchanged from the previous week—despite the growth in total holdings, the company did not increase its staking position.

This latest purchase continues the consistent accumulation strategy, solidifying BitMine's position as the largest corporate holder of ETH. The Defiant previously reported in June on Lee publicly defending the company's funding model (after insiders warned of a cash shortfall). Lee has also publicly characterized crypto assets as a "wartime store of value" in his comments.

At this pace, BitMine is steadily advancing towards its proclaimed goal of controlling 5% of ETH's total supply. BitMine's stock trades on the New York Stock Exchange under the ticker BMNR.

The scale of the $73 million purchase and the 4.8% share of circulation are consistent across data from multiple independent market trackers, although BitMine's official post did not separate this week's purchase amount from the cumulative total.

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