Bitmine Buys 12,500 Ethereum (ETH) for $33.65M From BitGo, Treasury Reaches 4.9% of Supply
Key Takeaways
- •Bitmine purchased and took delivery of 12,500 ETH in a $33.65 million transaction settled through custodian BitGo.
- •The purchase raises Bitmine's Ethereum holdings to roughly 5.98 million coins, equal to 4.9% of the network's total supply of 122.1 million ETH.
- •The transaction implies an average purchase cost of approximately $2,692 per ETH.
- •BitMine has publicly targeted holding 5% of total ETH supply and now needs only about 122,100 additional ETH, less than ten purchases of this size, to reach that goal.
- •The purchase was verified through the publicly visible on-chain record on Ethereum's blockchain, with updated treasury figures disclosed at the same time.
Bitmine bought and took delivery of 12,500 Ethereum (ETH), a $33.65 million purchase settled through custodian BitGo, according to the on-chain record of the transfer.
The delivery lifts the company's Ethereum treasury to 4.9% of the network's total 122.1 million coin supply — a figure disclosed together with the purchase. At that share, Bitmine's holdings amount to roughly 5.98 million ETH.
Based on the disclosed purchase size and value, the transaction implies an average cost of approximately $2,692 per ETH.
A Treasury Approaching a Key Threshold
BitMine Immersion Technologies has pursued an Ethereum treasury accumulation strategy since 2025 and has publicly stated a target of holding 5% of the total ETH supply. The latest purchase brings the company's holdings within close range of that threshold, positioning it among the largest known corporate holders of Ether. At the disclosed supply total, the remaining 0.1 percentage point works out to roughly 122,100 ETH — just under ten purchases the size of this one — before the company reaches its stated 5% goal.
BitGo, the custodian named in the settlement, is a digital asset custody provider serving institutional clients, a common arrangement for large treasury transactions settled and stored on-chain.
Source and Disclosure
The purchase and delivery were verified through the on-chain record of the transfer, which is publicly visible on Ethereum's blockchain, and the updated treasury figures were disclosed alongside the transaction.
This content was first published on COINOTAG: https://en.coinotag.com/bitmine-buys-12500-ethereum-eth-33-65m-from-bitgo
