Bitmine lifts ETH holdings to 5.815 million, closing in on 5% circulating-supply goal

Bitmine, the Tom Lee-backed firm, has expanded its Ethereum position again, buying an additional 9,926 ETH last week, CoinDesk reported. The purchase was valued at about $189 million. Following the latest accumulation, Bitmine's total ETH holdings rose to 5,815,164 ETH, worth roughly $11 billion, putting the company within reach of its objective to hold 5% of Ethereum's total supply. Based on the figures cited, the position equals about 4.8% of circulating supply, leaving a shortfall of roughly 226,000 ETH to meet the 5% threshold. Since rolling out its Ethereum treasury strategy, Bitmine has added to its ETH balance on a weekly basis, making it one of the largest institutional accumulation efforts in the market to date. The strategy is framed as more than a simple bet on price appreciation; the company has pointed to Ethereum's role as infrastructure for tokenized financial assets and onchain automated transactions as a key reason for maintaining ETH as part of its corporate asset allocation. A large portion of the holdings is actively deployed. Bitmine said about 5.07 million ETH has been staked, representing roughly 87% of its total position. The company estimates that at full scale, annual staking rewards could reach around $287 million, with annualized staking income near $250 million, creating a second revenue stream alongside ETH's market-value movements. Key figures - New purchases last week: 9,926 ETH - Total holdings: 5,815,164 ETH - Amount staked: about 5.07 million ETH Market participants are also tracking onchain signals alongside price. CoinDesk noted that some investors view Bitmine's continued buying as a sign of institutional confidence, though it does not guarantee an immediate price response and some market views still call for additional confirmation of a sustained uptrend. Separately, onchain monitoring account Lookonchain reported that address 0x8447 recently bought and staked another 5,000 ETH, lifting its total holdings to 10,657 ETH. Analyst Ali Martinez said new Ethereum addresses added daily increased from 121,210 on Aug. 8 to 212,560, pointing to a pickup in onchain activity. Editor's note: References to extensive short-term technical analysis in the original have been condensed to focus on holdings, staking activity and onchain indicators.