Written by Zoltan Vardaistaff writerReviewed by Robert Lakinstaff editor

Written by Zoltan Vardaistaff writer

Reviewed by Robert Lakinstaff editor

Bitmine buys 28k ETH, completes 97% of treasury accumulation goal

Latest NewsPublishedSep 8, 2026

While Bitmine’s completed 97% of its goal to acquire 5% of Ether’s supply, Tom Lee’s team faces a $5.1 billion unrealized loss on its main treasury asset.

Bitmine Immersion Technologies, the largest corporate Ether holder, revealed another purchase of the second-biggest crypto, bringing the company closer to management’s goal of accumulating 5% of the total supply.

Bitmine acquired 28,086 Ether (ETH) last week, as reported by a Tuesday announcement, which is currently worth about $69.5 million. The purchase brings Bitmine’s total holdings to 5.93 million Ether acquired at an average price of $2,495 per ETH. 

Bitmine reported $15.7 billion in total assets, including $593 million in marketable securities, cash, other crypto holdings and 5.1 million in staked ETH, which is expected to generate $330 million in annualized staking revenue.

Following the purchase, Bitmine stated it completed 97% of its goal to acquire 5% of the total Ether supply within 15 months. Led by chairman Tom Lee, the company revealed a 53,501 ETH acquisition last week, pushing its holdings to account for 4.9% of Ethereum’s 120.7 million circulating supply.

Bitmine ranks as the world’s largest publicly listed Ether treasury. The company is currently facing $5.1 billion in unrealized losses on its ETH holdings, as reported by Dropstab data. Ether’s price fell 16% since the beginning of 2026 and was trading at $2,469 at 1:29 pm UTC on Tuesday, as reported by CoinMarketCap.

The company’s NYSE-traded BMNR stock price was down more than 2% at Tuesday’s market open, poised to extend its year-to-date decline into double digits, as reported by Yahoo Finance. 

Related: Tom Lee says ‘mini crypto winter’ is over, sees Ether above $60K

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Ether Price
• Digital Asset Holdings
• Digital Asset Management
• Staking
• Ethereum Price
• Stocks
• Ethereum

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