BitMine Immersion Technologies, listed on the NYSE under the ticker BMNR, purchased 27,562 ETH for $75 million during the week ending September 20, 2026. This acquisition brings the company's total holdings to 5,983,940 ETH, which accounts for approximately 4.9% of the total circulating supply of 122.1 million tokens.
The current value of the company's Ethereum position is approximately $16.1 billion, establishing BitMine as the largest corporate holder of the asset. The company has been executing a weekly purchase strategy since June 30, 2025, primarily through over-the-counter channels like Kraken and FalconX. The average purchase price for the latest transaction was roughly $2,727 per ETH.
The company is nearing its goal of owning 5% of all circulating Ethereum, having completed 98% of its target. Beyond simple accumulation, BitMine stakes approximately 85% of its holdings, or about 5 million ETH. This staking activity generates an estimated annual revenue of $357 million based on current yield rates.
Including Bitcoin holdings and cash reserves, BitMine's total asset base is valued at $17.1 billion. Chairman Thomas Lee stated that the company expects a rise in institutional investment in digital assets toward the end of 2026, citing the ongoing development of regulatory frameworks in the United States.
