BitMine Holdings has continued its aggressive buying of Ethereum, adding more than 53,000 ETH in a single week as it moves closer to its goal of owning 5% of all ETH. The latest acquisition has pushed its ETH treasury to 5.9 million tokens.

At the time of writing, ETH trades at $2,440.88, with a 24-hour trading volume of $30.04 billion and a market capitalization of $294.57 billion. The value of BitMine Holdings' Ethereum holdings stands at close to $15 billion (CoinMarketCap).

Accelerated Ethereum Purchases

The new purchase is larger than several of BitMine Holdings' recent acquisitions. The company bought 32,447 ETH last week, and its acquisitions over the past two weeks have totaled nearly 86,000 ETH.

Following the latest purchase, BitMine Holdings holds 5,901,112 ETH, which represents roughly 4.9% of Ethereum's circulating supply of about 120.7 million tokens.

The firm is now extremely close to its self-proclaimed "Alchemy of 5%" milestone, which entails accumulating ETH equivalent to 5% of Ethereum's total supply. BitMine Holdings currently stands only a small margin away from reaching that target.

The company has kept acquiring Ether even as some other major crypto treasuries paused purchases during market uncertainty. BitMine chairman Tom Lee revealed that the firm has bought ETH weekly for 65 consecutive weeks. BitMine Holdings launched its Ethereum treasury strategy on June 30, 2025, and has not missed a single week of purchases since, which has helped it remain the largest corporate Ethereum treasury holder (PR Newswire).

BitMine's approach mirrors the playbook pioneered by MicroStrategy (now Strategy), which popularized the corporate-treasury model with Bitcoin starting in 2020. Since BitMine launched its ETH strategy in mid-2025, a wave of other publicly listed companies has adopted similar Ethereum-focused treasury strategies, making BitMine the reference point for the trend. Whether the firm can sustain weekly purchases as its holdings approach 5% of supply — and how Ethereum's staking and circulating supply dynamics evolve as a result — will be closely watched as the milestone draws near.

Most ETH Held in Staking

Rather than simply holding its Ether, BitMine Holdings puts much of its Ethereum treasury to work through staking. According to recent company figures, BitMine has staked 5,067,309 ETH, about 86% of its total Ethereum holdings. At current ETH prices, the staked position is worth approximately $12.7 billion.

BitMine says its staking operation has the potential to generate around $335 million in annualized revenue, based on an annualized staking yield of 2.63%. This approach allows the company to earn additional revenue from its Ether holdings while continuing to accumulate more. It also distinguishes BitMine from corporate Bitcoin treasuries, as Bitcoin does not offer native staking rewards.

Total Treasury Reaches $15.6 Billion

The company's total treasury has also grown over the week, rising to roughly $15.6 billion from $14.9 billion previously. Beyond its vast ETH holdings, BitMine Holdings also holds 211 BTC and about $541 million in cash and investments, including stakes in Beast Industries and Eighto.

With 5.9 million ETH already in its treasury, BitMine Holdings continues to pursue the 5% Ethereum ownership mark. Consistent weekly purchases and a substantial staking position have kept the company at the forefront of the emerging corporate Ethereum treasury trend.