Ethereum
Bitmine Nears 5% Ethereum Supply Milestone with Latest $68M Purchase
The treasury firm acquired 27,180 ETH over the past week, bringing its total holdings to 5.96 million tokens and within reach of its 5% supply target.
Bitmine expanded its digital asset treasury by purchasing 27,180 ETH over the past week for approximately $68 million, based on prevailing market prices near $2,500. The acquisition raises the company's aggregate balance to 5,956,378 ETH as of September 13, representing approximately 4.9% of Ethereum's total circulating supply of 122 million tokens.
The latest purchase leaves the Russell 1000-listed firm roughly 144,000 ETH short of its stated target of acquiring 5% of the network's total supply, equivalent to 6.1 million tokens. Bitmine has maintained consistent weekly purchases since launching its Ethereum treasury initiative in June 2025, mirroring its prior week's allocation volume.
According to an update from the company, its total balance sheet assets—comprising digital currencies, cash, marketable securities, and equity investments—have reached $15.8 billion. This total includes more than 5 million ETH staked through its MAVAN infrastructure, 212 BTC, $549 million in cash and marketable securities, and equity holdings in Beast Industries and Eightco. Bitmine Chairman Tom Lee highlighted that the ETH/BTC valuation ratio has reached its strongest level since January 30, reversing a multi-year downward trend that began in 2022.
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