Bitmine acquires 15,112 Ethereum, raising total to 6.02M ETH

Bitmine Immersion Technologies has bought another 15,112 ETH. The latest purchase lifts the company’s Ethereum stash to roughly 6.02 million coins.

The firm, chaired by Fundstrat’s Tom Lee, has turned weekly ETH buying into something close to a ritual. The 5% ownership target it has been chasing is now within reach, and that is the number Lee cares about most.

The weekly habit continues

The new buy 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 earlier figure equaled 4.9% of Ethereum’s circulating supply of approximately 122.1 million ETH. The latest 15,112 coins push the company a bit further toward Lee’s 5% goal.

Bitmine has been on this path since June 30, 2025, when it launched its treasury program. The company has bought ETH without interruption since then.

At the time of the September 27 update, Bitmine said it had reached 98% of a target it calls the “Alchemy of 5%.” It got there in about 15 months.

What’s on the balance sheet

Using a reference price of $2,698 per ETH, the company valued its Ethereum holdings at an estimated $16.2 billion in that prior update. Total assets came to approximately $17.2 billion.

Ethereum dominates that pile, but it isn’t the only item. Bitmine also listed the following:

213 BTC, a modest Bitcoin position next to its ETH holdings.

$672 million in cash and marketable securities.

$180 million in its stake in Beast Industries and $115 million in its stake in Eightco Holdings.

About 5.067 million ETH, or roughly 84% of its holdings, is staked through the company’s MAVAN institutional platform. Bitmine cited a recent staking yield of 2.62%. On that basis, it projects annual rewards of approximately $358 million.

Why 5% matters to Tom Lee

Lee has framed the 5% threshold in almost 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. Lee argues that institutions remain underweight digital assets, and he expects significant inflows into the space, ETH in particular, during the fourth quarter of 2026.

What this means for ETH and Bitmine shareholders

For BMNR shareholders, the company’s value is tightly tied to ETH’s price. The $16.2 billion valuation of its ETH was calculated at $2,698 per coin, so any move in Ethereum swings the balance sheet in a big way.

The non-ETH assets, including cash, the small Bitcoin position and the equity stakes, offer some diversification. Against a total asset value of approximately $17.2 billion, though, they are a supporting cast rather than the main act.

The next milestone is obvious. Bitmine was at 98% of its 5% target in late September, and the latest purchase moves it closer still.