Bitmine reaches 4.9% of Ethereum supply with 28,086 ETH purchase

Bitmine acquired 28,086 ETH over one week, bringing its total treasury to 5,929,198 ETH representing 4.9% of Ethereum's 122 million ETH supply, according to The Defiant's reporting on September 8, 2026. Using a Coinbase reference price of $2,495 per ETH as of September 7, The Defiant valued the position at $14.79 billion. Bitmine's aggregate holdings, which included 211 BTC, $593 million in cash and marketable securities, and stakes valued at $180 million in Beast Industries and $91 million in Eightco Holdings, totaled $15.7 billion as of September 7, up only $100 million from the prior week's $15.6 billion figure. The 28,086 ETH purchase was smaller than the 53,501 ETH acquired in the preceding week, continuing a pattern of weekly accumulation since Bitmine's treasury strategy began on June 30, 2025. In July, the company held 5,742,237 ETH, then equal to about 4.8% of circulating supply. The company has increased its position to approach its stated goal of 5% of total Ethereum supply. Approximately 85% of Bitmine's ETH holdings, or 5,067,309 ETH, was staked as of September 7. Chairman Tom Lee stated that Bitmine has continued adding ETH.