Bitmine Buys 32,447 More Ether, Taking Holdings to 5.85 Million ETH

Bitmine, the world’s largest corporate holder of Ether, bought another 32,447 ETH over the past week, increasing its total holdings to 5,847,611 ETH. That equals 4.8% of Ether’s circulating supply of 120.7 million tokens.

Bitmine’s crypto, cash, marketable securities and strategic investment assets totaled $14.9 billion as of Aug. 24, according to a PR Newswire release. The total includes 5.85 million ETH, 210 Bitcoin, $308 million in cash and marketable securities, a $180 million stake in Beast Industries and an $89 million stake in Eightco Holdings.

At an Ether price of $2,440, Bitmine’s ETH holdings are worth about $14.3 billion. The company said it has reached 97% of its goal of acquiring 5% of total ETH supply. It has bought Ether every week for about 14 months since launching its Ethereum treasury strategy on June 30 last year.

The company has staked 5,067,309 ETH, valued at about $12.4 billion at $2,440 per token. That represents 87% of its total holdings. Its annualized seven-day yield is 2.67%, and projected annual staking income is about $330 million. If all of its ETH were staked, annual rewards would rise to about $381 million, Bitmine said.

Tom Lee, Bitmine’s chairman, said Ether rose 30% last week, marking its biggest weekly gain since May 2025 and the largest before that since July 2021.

After the previous two weekly gains of more than 30%, Ether went on to climb another 167% and 170%, respectively, Lee said.

Lee said Ether’s recent advance should have come earlier given several strengthening tailwinds, including improving crypto fundamentals, Wall Street tokenization and agentic artificial intelligence. He added that pro-crypto signals from the White House and purchases of long-term Treasury bonds by the U.S. Treasury had improved appetite for risk assets.

Lee also highlighted the rising ETH-BTC ratio, saying it has tended to climb during crypto bull markets when Ethereum usage outpaces Bitcoin. Earlier moves were driven by the ICO boom in 2017-2018, NFTs in 2020-2021 and stablecoins in 2025.

In the current crypto cycle, Wall Street’s blockchain-based tokenization efforts and blockchain use tied to agentic AI will drive further gains in the ETH-BTC ratio, he said.

Bitmine is the world’s largest Ethereum treasury company and remains the second-largest crypto treasury company globally after Strategy.