Bitmine Immersion Technologies purchased 71,179 Ethereum over the past week, pushing its total holdings to 4,732,082 ETH and bringing the firm closer to its stated goal of accumulating 5% of all circulating ETH supply.
BitMine’s latest Ethereum buy lifts its treasury again
Tom Lee’s Bitmine disclosed the acquisition in a March 30, 2026 SEC filing, attached as Exhibit 99.1 to a Form 8-K. The 71,179 ETH purchase marks an acceleration from the company’s prior weekly pace of 45,000 to 50,000 ETH.
“In the past week, we acquired 71,179 ETH compared to an average of 45k to 50k weekly prior to that.”
— Tom Lee, Bitmine Immersion Technologies (SEC filing)
The filing also disclosed that Bitmine held 3,142,643 staked ETH as of March 29, 2026, and reported total crypto, cash, and moonshot holdings of $10.7 billion. Bitmine trades under the ticker BMNR.
Total holdings are now approaching BitMine’s stated supply threshold
As of March 29, 2026 at 6:00 p.m. ET, Bitmine’s treasury stood at 4,732,082 ETH. That figure represents 3.92% of Ethereum’s circulating supply, putting the company more than 78% of the way toward its publicly stated 5% target.
With Ethereum’s circulating supply at roughly 120.69 million ETH, a 5% stake would require approximately 6.03 million ETH. That leaves Bitmine about 1.30 million ETH short of the threshold.
At the current weekly acquisition rate, the gap could narrow quickly. The jump from an average of roughly 47,500 ETH per week to 71,179 ETH suggests Bitmine is accelerating purchases rather than coasting toward its target. The company claims it remains the largest corporate ETH treasury in the world, though that assertion has not been independently benchmarked.
Ethereum was trading at $2,025.76 at the time of the filing, with a market capitalization of approximately $244.4 billion and 24-hour trading volume near $16.3 billion. Broader Ethereum ETF flows have been mixed in recent weeks, with some funds posting outflows even as corporate treasury buyers like Bitmine continue accumulating.
Why BitMine’s 5% Ethereum supply target is the real story
A one-off purchase of 71,179 ETH is notable on its own. What sets this apart is that Bitmine is executing against a defined percentage-of-supply objective, not simply buying opportunistically.
Targeting a fixed share of circulating supply creates a ratchet effect. As Bitmine accumulates and stakes its holdings, those tokens are effectively removed from liquid markets. With 3,142,643 ETH already staked, roughly two-thirds of the company’s position is locked, reducing available sell-side supply.
The structure echoes the treasury accumulation strategies seen in Bitcoin markets, where public companies have set BTC reserve targets measured against supply. Bitmine is applying the same framework to Ethereum, where the supply dynamics differ because of staking yield and a deflationary burn mechanism under EIP-1559.
Corporate treasury buying at this scale also carries implications for the broader institutional landscape around digital assets. A single entity holding nearly 4% of a major Layer 1 network’s supply, with a stated path to 5%, introduces concentration risk that protocol governance watchers and market participants will track closely.
Bitmine’s SEC filing noted that crypto is “demonstrating itself to be a good war-time store of value,” framing the accelerated purchases as a strategic conviction rather than a market trade. That is a management opinion, not a verifiable claim, but it signals the company is unlikely to slow its pace as it approaches the final 1.30 million ETH needed to hit 5%.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
