BitMine acquires $19M in Ethereum as it closes in on 5% of total supply

BitMine Immersion Technologies just added another $19 million worth of Ethereum to its balance sheet, a purchase that looks almost routine for a company that has been buying ETH every single week since June 2025.

Context makes this number more interesting. BitMine, trading under the ticker BMNR, currently holds approximately 5.78 million ETH, which works out to about 4.8% of the entire Ethereum supply. That makes it the largest corporate holder of ETH in the world, by a significant margin.

How BitMine got here

The company launched what it calls its ETH Treasury Strategy on June 30, 2025. The playbook is straightforward: buy Ethereum on a weekly schedule, lean into dips, and stake the holdings to generate yield.

The acquisitions have not all been $19 million tranches. The largest single purchase on record was 126,971 ETH, valued at approximately $214 million, during the week ending June 8, 2026.

BitMine’s total crypto and cash holdings now sit at around $11.5 billion, which also includes 207 BTC and various other assets. The ETH position is clearly the centerpiece.

The staking angle is the real story

Buying ETH is one thing. Staking over 4.9 million of it is another conversation entirely.

The company’s stated goal is to reach 5% of the total ETH supply. At 4.8%, it is close enough that the next few weeks of weekly purchases could get it there.

Who is backing the strategy

BitMine is not doing this on its own. The company counts ARK Invest, Founders Fund, Pantera, and Galaxy Digital among its institutional backers.

That roster is worth pausing on. ARK Invest is Cathie Wood’s firm, known for high-conviction bets on disruptive technology. Pantera is one of the oldest dedicated crypto venture funds. Galaxy Digital is a full-service digital asset firm. Founders Fund is Peter Thiel’s vehicle.

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