Bitmine's Ethereum (ETH) Holdings Reach 6.05 Million After 10,452 ETH Weekly Buy

10,452 ETH Added in a Week

Bitmine Immersion Technologies bought 10,452 Ethereum (ETH) over the past week, a purchase worth more than $24 million at the time it settled. The weekly addition is logged in a whale-tracking post published on 2026-10-26, and with it counted in, the New York Stock Exchange-listed Ethereum treasury firm's total stands at 6,051,933 ETH. At the company's $2,356 reference price that book is worth about $14.3 billion, and at the current level it marks to just over $14 billion. The stack equals 4.95% of Ethereum's circulating supply of roughly 122.2 million coins, about one coin in twenty in existence. Bitmine's stated ceiling is 5% of the network, a line its chairman, Tom Lee, has said would end the buying; the company brands the target the Alchemy of 5%, and the latest purchase leaves 0.05 percentage points between the firm and the halt.

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A whale-tracking post published on 2026-10-26.

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An Ethereum (ETH) treasury company of this type holds the coin directly on its corporate balance sheet and funds purchases by selling equity, which is why the weekly ledger matters to BMNR shareholders as much as to coin holders. Purchases of this size have become a weekly rhythm for the firm through October's decline. The buying ran against a falling tape: the Ethereum (ETH) price sits near $2,326 on Monday, about 0.9% lower over 24 hours and roughly 13% below the recent high, so the week's coins were added well under the reference mark the company uses to value its book. Tom Lee has kept his public stance through the drawdown, arguing that Ethereum's 13% slide from its high is smaller than the 20% drop in United States semiconductor stocks over the same stretch, which he reads as evidence the crypto bull market is still underway. That reading is his own forecast. The company's disclosures commit to the 5% accumulation target, not to a view on where the price goes next.

2.04 Million BMNR Shares Repurchased

Bitmine's cash went to its own equity in the same week. The company repurchased 2.04 million shares of BMNR at an average price of $22.48, and its cumulative buyback for this year now stands at 22.9 million shares, about $399.6 million. Management describes that program as the largest share repurchase among crypto treasury companies this year. Tom Lee has laid out the logic in plain terms: when executives judge the stock undervalued, they buy it back in a way that raises per-share value for the holders who remain. Our earlier piece on the record 2.04 million-share buyback set out the arithmetic of that trade.

The balance sheet behind both programs is wide. As of 2026-10-25, Bitmine reported total assets of $15 billion: the Ethereum (ETH) stack, 215 BTC, $514 million in cash and marketable securities, a $180 million stake in Beast Industries and a $76 million position in Eightco Holdings. Staking carries most of the coin position: 5,227,037 ETH, about 86% of the total, sits on the company's own MAVAN platform and is expected to produce roughly $318 million a year in staking yield.

The pattern is not unique to Bitmine. Strategy, the largest crypto treasury company overall, paused its Bitcoin purchases for the first time since mid-September and spent $204.9 million buying back STRC preferred stock instead. Bitmine ranks first in Ethereum holdings and second across all crypto treasuries behind Strategy, and this week both firms put fresh capital behind their own shares rather than behind new coin.

Ethereum Tests Its Strongest Support

Ethereum's spot price stood near $2,326 at the time of writing, down 0.4% since the week's disclosures crossed the tape. The largest altcoin by market value, at $284.4 billion, is testing its own floor: COINOTAG's composite scoring rates $2,306 the strongest support, 100 out of 100, with the nearest resistance at $2,438 scored 90 out of 100, a tighter structure than when Ethereum traded near $2,300 with $2,220 support in play. Momentum reads weak; the RSI prints 33.76 and the trend flag reads downtrend, and our Ethereum technical analysis page tracks those levels as they move. Positioning points the other way: accounts lean 74.7% long, a 2.95-to-1 ratio, while perp funding stays marginally positive at 0.0024%. If Bitmine is to cross its 5% line, it does so into a market whose ledger still shows sellers ahead on momentum and buyers ahead on positioning.