Bitmine Immersion Technologies reported acquiring 28,086 ETH over the past week, lifting its stated Ethereum holdings to 5,929,198 ETH and pushing its Bitmine Ethereum holdings to a company-d
Bitmine Immersion Technologies reported acquiring 28,086 ETH over the past week, lifting its stated Ethereum holdings to 5,929,198 ETH and pushing its Bitmine Ethereum holdings to a company-described 4.9% of circulating supply, within reach of its 5% target.
Bitmine stated on September 8, 2026 that it acquired 28,086 ETH over the prior week, according to its company release distributed via PR Newswire. The disclosure is an issuer statement, not independently audited on-chain data. For related coverage, see Ethereum Surge Attributed to Institutional Demand Shock.
Weekly ETH acquisition reported by Bitmine
28,086 ETH
Bitmine stated in its September 8, 2026 release that it acquired 28,086 ETH over the past week. Source: Bitmine via PR Newswire; company disclosure, not independently confirmed.The company did not disclose the execution price, individual transaction dates within the week, or acquisition cost for the purchase. The release valued ETH at $2,495 per token via Coinbase at its reporting snapshot, a mark-to-market reference rather than a purchase price. For related coverage, see Bitcoin ETF Adds $100 Million as Solana, XRP, Ethereum ETFs Stay Red.
The accumulation follows a documented cadence of incremental buys; the company earlier added 7,430 ETH to its holdings in a prior disclosure, and more recently reported crossing 4.8% of Ethereum supply.
Bitmine reported total holdings of 5,929,198 ETH as of September 7, 2026 at 2:00 p.m. ET, which it described as 4.9% of ETH supply, a rounded figure based on a stated denominator of 122.0 million ETH. For related coverage, see The Ethereum Treasury Company Model: Staking Economics, ETH Per Share, and Risk.
Total ETH holdings reported by Bitmine
5,929,198 ETH
As of September 7, 2026 at 2:00 p.m. ET. Bitmine described this as 4.9% of ETH supply, rounded using its stated 122.0 million ETH denominator, toward a 5% target. Source: Bitmine via PR Newswire; company disclosure, not independently confirmed.The company frames the position under its "Alchemy of 5%" strategy, stating it has reached 97% of that 5% target in 15 months. Nearing 5% is not the same as reaching it; the disclosed figures place the position below the threshold.
Using the issuer's 122.0 million ETH denominator, a 5% share equals 6,100,000 ETH, leaving a gap of 180,802 ETH from the reported 5,929,198. That is a derived calculation from a rounded denominator, not a live target.
The supply definition matters for the exact percentage. CoinGecko listed ETH circulating supply at 122,029,704 ETH with a September 8 timestamp; applying that later figure to the September 7 holdings shifts the implied gap to roughly 172,287 ETH, an illustration of denominator sensitivity rather than a precise threshold.
The 28,086 ETH addition increases Bitmine's ETH position, though the exact increment relative to prior holdings depends on the company's earlier reported totals rather than this release alone. Bitmine reported 5,067,309 ETH staked as of September 7, 2026, the bulk of its stated holdings.
Bitmine cited a 2.61% annualized staking yield measured over a seven-day window; its $330 million annualized staking revenue figure is a projection, not realized annual revenue. The company also reported $593 million in total cash and marketable securities at its September 7 snapshot.
Bitmine chairman Thomas "Tom" Lee said the company acquired 28,086 ETH over the past week, per the release. The statement is a named issuer attribution, not independent expert validation.
Over the past week, we acquired 28,086 ETH. Thomas "Tom" Lee, Bitmine chairman
Holding a share of circulating supply is distinct from control over the network; the reported 4.9% ownership does not equate to an equivalent share of staking power or governance over Ethereum. The mechanics of that distinction are covered in the Ethereum treasury company model and staking economics.
Broader spot context sits alongside the disclosure without confirming it: ETH traded at $2,495.86 with a 0.89% 24-hour change, a market capitalization near $304.5 billion and $11.74 billion in 24-hour volume, per contemporaneous market data. Treasury accumulation of this scale mirrors the institutional demand narrative around Ethereum, though this release provides no market-response data tied to the purchase.
The broad crypto Fear & Greed reading stood at 69, classified as Greed, on September 8, a market-wide sentiment gauge and not an Ethereum-specific or Bitmine-specific signal. Independent secondary confirmation of the acquisition remains absent in the reviewed material, and no company-attributed wallet addresses or transaction hashes were disclosed.
Additional source references: bitminetech.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
Read original article on marketbit.net
