Crypto: BitMine approaches 6 million ETH after a new purchase of 28,086 units
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After acquiring 28,086 ETH in one week, BitMine’s Ethereum treasury reaches 5.93 million Ether. The company confirms that it has achieved 97% of its goal of owning 5% of the total supply, but this ratio is based on its own tally of 122 million ETH.

In a huge industrial financial infrastructure, a monumental transparent tank is almost completely filled with coins bearing the Ethereum symbol. A huge pipeline pours a new avalanche of ETH into the reservoir. On this pipe only appears 28086. At the very top, a gigantic mechanical gauge displays 6000000, but its needle remains slightly below the limit. In the foreground, a manager in a suit watches the level rise with an expression mixing satisfaction and amazement.

In brief

  • BitMine now holds 5.93 million ETH after acquiring 28,086 ETH in one week.
  • The company is approximately 97% of its goal of holding 5% of Ether’s supply.
  • It is still 170,802 ETH short of crossing the threshold of 6.1 million ETH according to its own calculation.
  • Nearly 85% of its reserve is placed in staking, with $330 million in estimated annualized revenue.
  • This accumulation increases its exposure to the price of Ether, variations of which can significantly modify the value of its cash.

BitMine increases its holdings to 5.93 million ETH

BitMine added 28,086 ETH to its Ethereum treasury during the week ended September 7. This purchase constitutes nearly $70 million at the reference price of $2,495.

Therefore, this price represents an estimate of the market value of Ethers on a specific date, and not the average price paid by BitMine. THE company press release does not make it possible to determine the discounted purchase price of the entire reserve.

The main data announced by the company are as follows:

  • 28086 ETH acquired during the last week;
  • 5929198 ETH held in total;
  • 4.9% of the Ether supply according to BitMine’s calculation;
  • $15.7 billion in crypto, cash and equity;
  • 211 bitcoins and $593 million in cash and marketable securities.

Tom Lee, president of BitMine, asserted :

Over the past week we acquired 28086 ETH.

He also states that the company has acquired Ether every week since the launch of its strategy on June 30, 2025.

The 5% target remains distant from 170802 ETH

The total supply used by BitMine to calculate its evolution is 122 million ETH. A 5% stake could therefore correspond to 6.1 million Ethers. With 5,929,198 ETH in its portfolio, the company is precisely around 97.2% of this goal.

It is still missing 170802 ETH to exceed the announced threshold. At a reference price of $2,495, such an acquisition could represent nearly $426 million. However, this amount could increase significantly depending on the price of Ether at the time of the next purchases.

Currently, the share held is around 4.86% of the supply owned by BitMine, rounded to 4.9% in its press release. The final threshold is not completely fixed. Indeed, the supply of Ether fluctuates based on new issuances and ETH destroyed by Ethereum’s fee mechanism.

Despite everything, BitMine remains the first company listed for the possession of Ethers. Its accumulation also brings it closer to Strategy, which largely dominates the ranking of companies exposed to bitcoin, thanks to its reserve.

Staking could bring in $330 million

BitMine has staked 5,067,309 ETH, or approximately 85% of its Ethereum treasury. The firm believes this position would generate $330 million in annualized revenue, based on a seven-day return of 2.61%.

This estimate does not represent a guaranteed income. Rewards grow with the number of validators, Ethereum activity, network fees and operator performance. If BitMine manages to stake all of its Ether, it is looking at annualized rewards of $386 million.

Analyst Tom DeMark is also cited in the press release. The latter thinks that the current behavior of the price is favorable to a recovery: “we believe this supports the continuation of the previous uptrend”. These comments remain a market opinion and do not guarantee an appreciation of Ether.

The concentration of the portfolio represents the major risk of this strategy. At 5.93 million ETH, a fluctuation of just $100 in price changes the theoretical value of the reserve by almost $593 million. The next acquisitions and the progression of staking yields will therefore determine whether BitMine can approach 5% without excessively increasing its exposure.

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