The firm now holds over 4.06 million Ethereum, with Lookonchain noting the company purchased 13,412 tokens worth $40.61 million on Monday.
Ethereum News
Ethereum treasury company Bitmine surpassed 4 million tokens this week following a $40 million acquisition. The firm now holds over 4.06 million Ethereum, with Lookonchain noting the company purchased 13,412 tokens worth $40.61 million on Monday.
The latest purchase caps nearly 100,000 Ethereum accumulated over the past week. Bitmine has acquired all tokens at an average price of $2,991 each, positioning the company's holdings back into profit as Ethereum prices climbed above $3,000 over the weekend.
Bitmine chairman Tom Lee stated the company continues to add steadily to its Ethereum position, noting the 4 million token milestone was achieved just five and a half months after launching the strategy. The firm aims to own 5% of the total ETH supply, demonstrating strong conviction in the asset and the Ethereum ecosystem.
Current holdings are worth approximately $12.2 billion at present prices. Strategic ETH Reserve data shows Bitmine is 67% of the way toward its 5% target. Lee emphasized rapid progress toward what the company calls the "alchemy of 5%," stating synergies are already emerging from the substantial Ethereum position.
Shares in Bitmine (BMNR) have surged 606% over the past six months. The Ethereum accumulation strategy launched in June has proven a major catalyst for the company. The stock performance reflects investor enthusiasm for the concentrated bet on Ethereum's long-term value.
Bitmine has outlined plans to implement staking as part of its Ethereum holdings in early 2026. The initiative aims to generate additional value for investors through staking rewards while maintaining the core accumulation strategy.
The company is developing what it calls the Made in America Validator Network (MAVAN). Lee described this as a best-in-class solution offering secure staking infrastructure, scheduled for deployment in early 2026. The staking layer will allow Bitmine to earn yield on its massive Ethereum position while continuing to pursue the 5% supply target.
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