Bitmine Adds 27,562 ETH as Treasury Nears 6 Million

Bitmine Immersion Technologies has added another 27,562 ETH to its growing Ethereum treasury, spending about $75.2 million based on Monday’s ether price of $2,727.

The latest purchase brings Bitmine’s total Ethereum holdings to 5,983,940 ETH, representing roughly 4.9% of Ethereum’s circulating supply of 122.1 million ETH. The company is now close to its stated goal of holding 5% of the network’s total supply.

Bitmine has maintained a consistent buying strategy in recent weeks. The company said it has purchased Ethereum every week since June 2025, when it shifted toward building a large crypto treasury.

At its recent accumulation pace, Bitmine could reach its 5% target within the next few months. The company has also put a large portion of its holdings to work through staking.

Around 5 million ETH, or approximately 85% of Bitmine’s treasury, is currently staked. Based on current staking yields, the company estimates that its staked Ethereum could generate around $357 million in annual revenue.

Bitmine shares gained 5.8% in pre-market trading Monday, following an 8% increase on Friday as Ethereum climbed to its highest level since late January.

Chairman Tom Lee said the broader institutional market could also increase its exposure to Ethereum and other crypto assets. He argued that many institutional investors have remained relatively underexposed to crypto after focusing heavily on artificial intelligence-related stocks earlier in 2026.

Ethereum has gained about 76% since the end of June, while the S&P 500 has advanced roughly 2% over the same period. Lee said the performance gap could encourage fund managers to reconsider their allocations to digital assets.

“Given institutions have underweighted crypto in 2026, partially due to the outperformance of AI stocks in early 2026, we expect institutions to substantially increase their exposure in the final three months of 2026,” Lee said.

Lee also identified the growth of tokenization and the increasing use of blockchain technology alongside artificial intelligence as longer-term factors that could support greater institutional involvement in crypto.

With its latest purchase, Bitmine remains just a small step away from becoming one of the largest corporate holders of Ethereum relative to the network’s total supply.