Weekly Buying Streak Continues Bitmine Immersion Technologies (NYSE: BMNR) has taken its total Ethereum holdings to 5,956,378 ETH, moving closer to its stated goal of holding 5% of the networ
Bitmine Immersion Technologies (NYSE: BMNR) has taken its total Ethereum holdings to 5,956,378 ETH, moving closer to its stated goal of holding 5% of the network's circulating supply.The latest purchase of 27,180 ETH was made over the past week, according to the company's September 14 press release.@BitMNR has now bought $ETH every week since launching the strategy in June 2025, a pace of accumulation the company describes as "unmatched by any public company in the world."
The company has framed its long-term objective as reaching 5% ownership, a milestone it refers to as the "Alchemy of 5%." Against a total supply of 122.0 million ETH, the latest tranche moves Bitmine to within roughly 0.1 percentage points of that target.
As of August 30, 2026, Bitmine's total staked ETH stood at 5,067,309 tokens, valued at $12.7 billion at $2,511 per ETH. That figure represents approximately 85% of the company's overall holdings. Chairman Tom Lee (@fundstrat) projects annualised staking revenue of $334 million based on a 7-day yield of 2.62%, a figure broadly consistent with the wider market: native staking APR across the Ethereum network has compressed to around 2.78%, with total staked ETH standing at roughly 38.9 million tokens, or about 31.98% of supply.
Bitmine launched MAVAN (the Made in America VAlidator Network) earlier in 2026 as its institutional-grade staking platform, with plans to expand the service to institutional investors, custodians, and ecosystem partners.
Lee has linked Ethereum's stronger position to the growth of tokenization on Wall Street and the possible use of the network in agentic artificial intelligence, while also pointing to the expected Senate vote on the Clarity Act, a U.S. bill focused on rules for the crypto market."The 4-year cycle is bottoming within the next few weeks in our view," Lee said, adding that this could create room for larger institutional buying during the final months of 2026.
Bitmine's crypto holdings rank as the number one Ethereum treasury globally and the second-largest overall digital asset treasury, behind Strategy Inc. (NASDAQ: MSTR).
Sources:Bitmine press release: ETH holdings reach 5.90 million tokens (PR Newswire)BitMine Adds 27,180 ETH, Pushing its Holdings Near 6 Million (Crypto Times)Ethereum Staking in 2026: Yield Trends and Validator Queue Dynamics (KuCoin)
