Bitmine acquires $81 million in Ethereum to approach 5% supply target

Bitmine has significantly increased its Ethereum (ETH) holdings with an $81 million purchase of 32,447 tokens, marking its largest weekly acquisition since early July 2026. This move comes as the price of Ethereum surged 29% to break above the $2,500 mark.

Bitmine now controls approximately 4.8% of the total Ethereum circulating supply, holding a total of 5,847,611 ETH. The company has a stated goal of owning 5% of the total supply, which would require the acquisition of roughly 187,000 additional tokens. At current market prices, reaching this target would cost approximately $467 million.

In addition to Bitmine's institutional activity, spot Ether ETFs have seen significant inflows, with BlackRock’s ETHA contributing $64.68 million to a total of $71.47 million on August 18.