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BTC 
ETH BitMine Immersion Technologies currently holds 5,847,611 ETH units worth approximately US$14.3 billion, accounting for 4.8% of Ethereum's total supply, and has reached 97% of its own 5% holding target.
The company increased its holdings of 32,447 ETH units last week, more than triple its average weekly purchases in the previous three weeks.
This accelerated increase in holdings occurred this week, with Ethereum recording its largest weekly gain since May 2025.
BitMine Immersion Technologies said on Monday that it increased its holdings of 32,447 ETH units last week, bringing its Ethereum inventory to 5,847,611 units. Based on the reference price of US$2,440 in the announcement, the position is worth approximately US$14.3 billion.
BitMine provides the latest position update as of August 24, 2026: Total cryptocurrency value of US$14.9 billion +"Moon landing plan": -5,847,611 ETH units, unit price of US$2,440 (From @coinbase)-210 Bitcoin (BTC)-US$180 million invested in Beast Industries (@MrBeast)-US$89 million invested in Eightco Holdings... -- Bitmine (NYSE: BMNR)$ETH $BMNP (@BitMNR) August 24, 2026
The size of this purchase is more important than the total amount. In the three weeks before this, BitMine increased holdings of 10,399, 7,425 and 9,926 ETH units per week, with an average of approximately 9,250 ETH units per week. Last week's purchase of 32,447 ETH units was more than three times that average, a significant breakthrough from the relatively moderate weekly buying pace of the past two months.
Weekly Ethereum Purchases (Last Four Disclosure Weeks)
This increase in holdings coincides with significant fluctuations in Ethereum itself. "Ethereum rose 30% last week, the largest weekly gain since May 2025," BitMine Chairman Tom Lee said in the announcement.
As of 12:29 UTC on August 24, 2026, the trading price of Ethereum was US$2,492.69, up 2.89% in 24 hours. The market value reached US$300.49 billion, and the 24-hour trading volume was US$19.84 billion, an increase of 32.52%. The ratio of trading volume to market value is 6.6%, and Ethereum's fully diluted valuation is also US$300.49 billion. The total supply and circulation are both 120.68 million ETH, with no maximum supply limit.
Ethereum Price Chart
Independent market reports also confirmed this. On August 20, the trading price of Ethereum was close to US$2,250. Bitcoin exceeded US$69,000 amid widespread gains. Several media recorded a weekly increase of nearly 30%. BitMine did not slow down or maintain its recent pace as it approached its target, but instead pursued its gains aggressively. This contradicts speculation circulated a few days ago about whether BitMine would reduce purchases as it approaches the 5% threshold.
A treasury that also refilled its cash
As of the August 17 update, BitMine had only $78 million in cash and marketable securities, down from $482 million five weeks ago, months after the company purchased ETH while repurchasing it under a $4 billion share repurchase program. In this week's announcement, that figure rebounded to $308 million, an increase of $230 million, even after funding ETH purchases and ongoing buybacks.
BitMine did not disclose in this announcement how the cash was replenished. The company typically funds purchases through a large on-floor common stock program, but cannot confirm in the company's own filings or press releases any specific new financing between August 17 and August 24. At present, the mechanism behind this week's rally has not yet been confirmed.
BitMine Closes In on Its 5% Ethereum Goal
BitMine also holds 5,067,309 ETH for pledge, which is expected to generate annualized revenue of US$330 million, which the company expects to reach US$381 million after full deployment. To fully reach the 5% target, about 186,000 ETH pieces are needed based on current supply. If last week's speed is maintained rather than falling back to the slower speed that has just been broken, then this goal is well within reach.
