Bitmine increases ETH holdings by 27,562 tokens to 5.98 million, nearly 5% of supply

Bitmine (BMNR) announced it acquired 27,562 ETH over the past week, bringing its holdings to 5,983,940 ETH as of September 20, about 4.9% of total ETH supply and roughly 98% of its stated 5% accumulation target ^[1].

Bitmine reported that 5,067,309 ETH of its holdings are staked and valued at approximately $13.6 billion based on an ETH price of $2,688, while its total crypto holdings, cash, marketable securities, and other investments total approximately $17.1 billion, including $714 million in cash and marketable securities ^[1].

Multiple outlets also reported Bitmine’s updated totals, including ETH holdings reaching about 5.98 million tokens and total crypto and cash holdings around $17.1 billion, citing a Bitmine weekly update ^[2].

Separately, crypto.news reported Bitmine chairman Tom Lee said a crypto bull market is underway and could strengthen in the fourth quarter, in the context of Bitmine adding another 27,562 ETH worth roughly $75 million ^[3].

Crypto Briefing characterized Bitmine’s acquisition strategy as potentially influencing institutional interest and market dynamics, reporting the same 27,562 ETH purchase and noting the holdings were pushed close to 5% of circulating supply ^[4].