Bitmine Immersion Technologies Extends Ether Accumulation to 14 Months
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Written by
Simonas Brazionis - Updated 2026-09-08 07:24:38
Bitmine Immersion Technologies has continued its Ether accumulation, extending a 14-month buying trend. The company announced on Monday that it acquired 32,447 Ether (ETH) last week, bringing its total holdings to 5,847,611 ETH.
This substantial amount represents approximately 4.8% of Ethereum‘s circulating supply, highlighting Bitmine's significant investment in the cryptocurrency.
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Bitmine's Ethereum Strategy and Holdings
Since initiating its Ethereum treasury strategy on June 30, 2025, Bitmine Immersion Technologies has consistently purchased ETH weekly. The company is now 97% towards its objective of owning 5% of the total ETH supply, demonstrating a clear and consistent investment approach.
Furthermore, 5.07 million ETH, which accounts for about 87% of its holdings, are currently staked. The company's combined crypto, cash, securities, and other investments collectively amount to $14.9 billion, showcasing a diversified financial portfolio.
Market Rally and ETH Performance
The recent purchase by Bitmine coincided with a broad rally observed across the cryptocurrency market. ETH has experienced a significant increase, outperforming Bitcoin since last Wednesday, indicating strong market momentum.
This surge followed the US Treasury's announcement of plans to double its monthly purchases of certain longer-dated US Treasurys from $2 billion to $4 billion, starting next month. This macroeconomic factor likely contributed to the positive market sentiment.
Impact on Bitmine's Investments
Ether's price has risen over 32% since the announcement, surpassing $2,500 for the first time since January, according to CoinMarketCap data. This rebound has significantly reduced Bitmine's unrealized losses on its Ether investments, improving its financial position.
The company has invested over $19.5 billion in its Ether treasury. Paper losses have decreased to under $5 billion from more than $8.4 billion approximately a week prior, as reported by DropsTab data. This reduction in losses is a positive development for Bitmine.
