Bitmine Immersion Technologies has bought another 15,112 ETH, lifting its Ethereum treasury to roughly 6.02 million coins. The purchase extends a weekly buying streak that began in June 2025 and pushes the Tom Lee-chaired firm closer to its goal of owning 5% of ETH's total supply.
Bitmine Immersion Technologies has bought another 15,112 ETH, lifting its treasury to roughly 6.02 million coins. The firm, chaired by Fundstrat's Tom Lee, has turned weekly Ethereum buying into a routine, and the 5% ownership target it has chased since mid-2025 is now within reach.
A weekly buying streak since mid-2025
The new purchase follows Bitmine's prior weekly disclosure. For the week ending September 27, 2026, the company reported adding 17,362 ETH, which brought its holdings to 6,001,302 ETH. That figure equaled 4.9% of Ethereum's circulating supply of approximately 122.1 million ETH.
Bitmine has bought ETH without interruption since launching its treasury program on June 30, 2025. At the time of the September 27 update, the company said it had reached 98% of its "Alchemy of 5%" target in about 15 months.
What sits on the balance sheet
Using a reference price of $2,698 per ETH, Bitmine valued its Ethereum holdings at an estimated $16.2 billion in that prior update, with total assets of approximately $17.2 billion. The company also held 213 BTC, $672 million in cash and marketable securities, a $180 million stake in Beast Industries and a $115 million stake in Eightco Holdings.
About 5.067 million ETH, or roughly 84% of its holdings, is staked through the company's MAVAN platform. Bitmine cited a recent staking yield and projects annual rewards of approximately $358 million on a 2.62% yield basis.
Why the 5% threshold matters to Lee
Lee has framed the 5% threshold in near-mystical terms. His "Alchemy of 5%" label reflects a belief that owning that share of supply can create network effects and draw more institutional attention to Ethereum. He has also pointed out that ETH has outperformed the S&P 500 since Bitmine began its treasury strategy, and argues that institutions remain underweight digital assets.
For BMNR shareholders, the company's value stays tightly tied to ETH's price, since the $16.2 billion valuation rests on a single reference price. The non-ETH assets offer some diversification, but against roughly $17.2 billion in total assets, they remain a supporting cast rather than the main act.
Source: Crypto Briefing
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