Ethereum treasury management firm Bitmine has crossed a significant milestone after its Ether holdings exceeded 4 million tokens this week.
The latest acquisition involved 13,412 ETH, valued at approximately $40.61 million, bringing the company’s total purchases over the past week close to 100,000 ETH.
Bitmine acquired these tokens at an average price of $2,991 each.
“Bitmine continues to add steadily to its ETH holdings, adding 98,852 ETH in the past week, and Bitmine holdings now exceed the crucial 4 million ETH tokens,” said chairman Tom Lee.
Lee described the milestone as a “tremendous achievement” reached in just 5.5 months.
The price of Ethereum has risen back to around $3,000 over the weekend, returning Bitmine’s portfolio to profitability after losses following the October market downturn.
The company has set a goal of holding 5% of the total ETH supply.
With current holdings valued at roughly $12.2 billion, Bitmine is approximately 67% of the way to achieving this target.
“We are making rapid progress towards the ‘alchemy of 5%’ and we are already seeing the synergies borne from our substantial ETH holdings,” Lee said.
Bitmine’s shares have soared 606% over the past six months, with the Ether acquisition strategy, launched in June, driving much of this growth.
The company also plans to integrate staking into its Ether holdings in early 2026.
Lee described the upcoming solution, known as the Made in America Validator Network (MAVAN), as a “best-in-class” infrastructure for secure Ethereum staking.
This staking initiative is expected to provide additional value to investors while expanding the utility of Bitmine’s growing ETH portfolio.
By steadily increasing its holdings and preparing for staking deployment, Bitmine aims to strengthen its influence within the Ethereum ecosystem and capitalize on long-term market potential.
