Publicly traded ether treasury firm Bitmine Immersion Technologies announced it has edged closer to its stated goal of obtaining 5% of the circulating ETH supply, adding approximately $41 million worth of the cryptocurrency over the last week.
Bitmine said it obtained an additional 15,112 ETH, pushing total holdings to over 6.016 million ETH, worth about $16.27 billion at current market prices. The firm now holds over 4.9% of the ETH supply, nearing its long-stated 5% target.
Bitmine Chairman Tom Lee highlighted the firm's performance relative to ether during market downturns, noting that in the first nine months of 2026, ether declined 10% while the company's shares (BMNR) declined 3%. Lee also noted that ether has significantly outperformed the S&P 500 in recent quarters amid a broader crypto market rebound, with ether up more than 51% in the last three months despite being down about 9% since the start of the year.
The chairman stated that Bitmine has repurchased over 21 million BMNR shares so far in 2026 in an effort to drive shareholder value. At recent prices, the buyback program is valued at more than $558 million this year.
Other prominent crypto treasury firms also announced purchases on Monday. Strategy, the bitcoin treasury firm, now holds over $72.5 billion worth of bitcoin after adding about $28.7 million worth last week. Strive added 2,000 bitcoin, valued at approximately $169 million, bringing its total holdings to 29,462 BTC valued above $2.5 billion.
