BitMine Immersion Technologies has crossed another threshold in its Ethereum accumulation strategy, pushing its treasury above 5 million ETH after what it says is its biggest weekly purchase of the year so far.
The company added 101,901 ETH over the last week, narrowly surpassing the previous week’s 101,627 ETH haul. That makes it BitMine’s largest weekly Ethereum buy of 2026 to date. The latest total includes a 10,000 ETH over-the-counter purchase from the Ethereum Foundation, a sale the foundation disclosed on Friday.
With the latest addition, BitMine now holds 5,078,386 ETH, currently valued at around $11.75 billion. That is a remarkable number on its own, but the pace may be the more striking part.
Tom Lee, BitMine’s chairman, called the milestone a major step as the company works toward owning 5% of total ETH supply. He also noted that it took only 10 months for the firm to reach the 5 million ETH mark, a speed of accumulation that is hard to ignore even in a market already used to aggressive treasury strategies.
That kind of buildup increasingly places BitMine in a category of its own. Public crypto treasury companies have become familiar in Bitcoin. In Ethereum, the field is still thinner, which makes each large buy feel more consequential.
The inclusion of the Ethereum Foundation block matters too. A direct OTC purchase from one of the ecosystem’s most closely watched entities gives the latest round of accumulation a more institutional tone, even if the transaction itself was only part of the weekly total.
More broadly, BitMine’s strategy suggests Ethereum is starting to attract the sort of treasury conviction once seen almost exclusively around Bitcoin. The company is not treating ETH as a trading position or a side allocation. It is building around it methodically, week after week.
That leaves the market with a fairly obvious question. If BitMine has already crossed 5 million ETH in less than a year, the next milestone may arrive faster than many expected.
