Bitmine Immersion Technologies has expanded its corporate Ethereum treasury with the purchase of 42,197 ETH over the past week. The acquisition is valued at approximately $74 million based on current market prices.
The latest purchase brings Bitmine’s total holdings to 5.74 million ETH, equal to roughly 4.8% of Ethereum’s circulating supply. The company is now close to its stated goal of holding 5% of all ether.
It seems that Tom Lee(@fundstrat)'s #Bitmine bought another 20,500 $ETH($35.92M) from #GalaxyDigital 6 hours ago.https://t.co/sAi8OkSrhWhttps://t.co/i1k67fqVRD pic.twitter.com/gn5jNfCmpK
— Lookonchain (@lookonchain) July 10, 2026
Bitmine Builds Toward Its Ethereum Accumulation Target
The recent acquisition reflects a renewed increase in weekly buying activity, rising from the previous week’s 27,084 ETH purchase. However, it remains below the faster accumulation pace seen earlier this year, including a 71,524 ETH weekly buy reported in April.
Bitmine’s Ethereum strategy has also included a series of transfers from BitGo observed in June, reinforcing the company’s continued focus on expanding its treasury position. The latest activity suggests sustained accumulation as the firm approaches its 5% supply target.
Chairman Thomas Lee linked the ongoing buying strategy to growing investor optimism around the proposed Clarity Act. Lee has argued that clearer crypto legislation could provide regulatory certainty for the sector and benefit Ethereum’s institutional use case.
Lee also pointed to the rising ETH/BTC ratio as a sign that investors may be pricing in stronger visibility for blockchain applications. That interpretation remains a market view, but it frames Bitmine’s accumulation as part of a broader institutional thesis around Ethereum.
Treasury Includes ETH, Bitcoin and Strategic Equity Stakes
At current valuations, Bitmine’s total cryptocurrency, cash and investment portfolio is estimated at approximately $11.1 billion. Its Ethereum holdings account for about $10 billion of that total.
The company’s broader treasury also includes 206 bitcoin, $527 million in cash and marketable securities, along with equity stakes in Beast Industries and Eightco Holdings. That composition keeps Ethereum as the dominant asset while preserving some liquidity and diversified exposure.
Bitmine has also prioritized yield generation from its ETH holdings. Previous reports indicated that the company has staked approximately 68% of its Ethereum, creating a staking revenue stream alongside its accumulation and treasury management programs.
The company has not disclosed a specific timeline for reaching the 5% supply target. For now, Bitmine’s latest purchase shows continued institutional-scale Ethereum accumulation, with future activity likely to be measured against its stated supply objective and staking strategy.