Bitmine Makes Largest Ethereum Purchase Since Early July
Bitmine Immersion Technologies (NYSE: BMNR) made its largest purchase of Ethereum since early July, acquiring 32,447 ETH for $81 million. This brings the company's total holdings to over 5.8 million tokens valued at approximately $14.6 billion as of August 2026. Bitmine has been consistently buying Ethereum weekly since June 2025 and now owns nearly 4.8% of its circulating supply, close to its stated goal of owning 5%. The company plans to stake most of its holdings, generating an estimated $330 million in annualized staking revenue. The purchase coincides with a strong rally for Ethereum, which has surged over 34% in the past week. ETH's price rose from around $1,800 to above $2,500 as of August 24, outperforming Bitcoin’s recent gains. Despite this positive momentum, Bitmine’s stock (BMNR) has declined by more than half over the last year.
Topics: Bitmine crypto treasury strategy Ethereum