Bitmine Immersion Technologies Ramps Weekly Ethereum Order to $131.3 Million, Now 4.9% of Circulating Supply
A $131.3 million week of Ethereum buying gave Bitmine Immersion Technologies (NYSE: $BMNR) its largest single-week purchase of $ETH since June, adding 53,501 tokens to a balance sheet that now holds 5,901,112 ETH valued at $14.50 billion. The company is 134,000 ETH short of the 5% circulating supply target it has been building toward, with Ethereum trading at $2,450 on August 31.
Key takeaways
- Bitmine Immersion Technologies (NYSE: BMNR) bought $131.3 million of Ethereum in one week, adding 53,501 ETH for its largest single-week ETH purchase since June.
- Bitmine now holds 5,901,112 ETH valued at $14.50 billion, equal to 4.9% of Ethereum's 120.7 million circulating supply.
- The company is 134,000 ETH short of its self-imposed target of holding 5% of circulating ETH supply.
- Bitmine has staked 5.07 million ETH (86% of its holdings) and expects $335 million in annualized staking revenue.
- BMNR shares trade at $23.80, down 44% over the past 12 months, despite Ethereum gaining 55% in August.
A $131.3 million week of Ethereum buying gave Bitmine Immersion Technologies (NYSE: $BMNR) its largest single-week purchase of $ETH since June, adding 53,501 tokens to a balance sheet that now holds 5,901,112 ETH valued at $14.50 billion. The company is 134,000 ETH short of the 5% circulating supply target it has been building toward, with Ethereum trading at $2,450 on August 31.
The acceleration reverses a pattern that ran through most of the summer. The serial cryptocurrency acquirer, led by Chairman Tom Lee, had been deliberately easing off the order book as its position closed in on the self-imposed threshold, with weekly purchases dropping below 10,000 ETH on multiple occasions in July and August. That pace changed sharply in the final week of the month. Ethereum's circulating supply stands at 120.7 million tokens; Bitmine now holds 4.9% of it.
Staking throughput and the revenue line
The inventory isn't static. Bitmine has deployed 5.07 million ETH into staking, equal to 86% of its total holdings. Staking involves locking assets on a blockchain to help verify transactions and secure the network in exchange for rewards, a mechanism that analysts compare to earning interest on a savings account. The company says it expects the staked position to generate $335 million in annualized staking revenue going forward. August's price action gives that number some context: Ethereum gained 55% during the month, outperforming U.S. stocks for the first time in months and lifting the mark on Bitmine's holdings considerably.
The equity side has not kept pace. $BMNR shares trade at $23.80, down 44% over the past 12 months. The gap between on-chain accumulation and the stock price that is supposed to reflect it has been the persistent friction for investors in the name.
What to watch: whether the buying rate holds. At 134,000 ETH from the 5% target, the next set of purchase disclosures will signal whether August was a one-week sprint or the start of a sustained final push.
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Filed by the digital assets desk of MarketPR on August 31, 2026. Source: finance.yahoo.com. Indicative figures are not investment advice.