BitMine Acquires 28,086 ETH, Approaching 5% Supply Target
Ethereum (ETH)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that BitMine Immersion Technologies has acquired 28,086 ETH over the past week. This purchase brings the company’s total Ethereum holdings to 5,929,198 ETH, valued at approximately $70 million based on an average price of $2,495. BitMine’s treasury now accounts for 4.9% of the estimated 122 million ETH supply as of September 7, 2026.
Chairman Tom Lee confirmed the weekly acquisition, noting the firm has been buying since the strategy launched in June 2025. The company’s total assets are reported at $15.7 billion, including strategic investments. Over 5.06 million ETH is staked on the Made in America VAlidator Network (MAVAN), worth roughly $12.6 billion.
BitMine estimates annualized staking revenue at $330 million based on current yields. Lee highlighted Ethereum as the top-performing macro asset in Q3 2026, beating the S&P 500 by 5,430 basis points. He cited the CLARITY Act vote, South Korean interest, and agentic AI as positive catalysts for late 2026. BitMine’s common stock rose 99% this quarter, ranking as the fourth-best performer in the Russell 1000.
How the market reacted
Whalio's own Binance spot order flow for ETH, measured when this story was written up on 9 September 2026. Not the outlet's figures.
ETH is trading at $2,485.06 with a 1-hour buy ratio of 54.9% and a 4-hour buy ratio of 53.0%. These short-term ratios indicate that buyers are currently dominating the flow, as both exceed the 24-hour buy ratio of 49.2%. The 1-hour volume delta is positive at $1,241,141, while the 4-hour delta is +$2,464,111, showing immediate accumulation. However, the 24-hour volume delta is -$9,155,451, suggesting that buying pressure has faded over the full day. The cumulative volume delta closed at -$10,484,448, confirming net selling pressure over the longer timeframe. Spot volume for the day reached $606,459,598 across 2,434,365 trades.
The latest daily buy ratio of 46.8% sits at the 16th percentile of the last 322 days, against a median of 49.5% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ETH, averaged over the days leading up to the story.
The current 24-hour buy ratio of 49.2% is slightly below the 7-day average of 50.4%, indicating a minor shift in sentiment. Volume today is at 0.89x the weekly average, showing reduced trading activity compared to recent norms. Over the preceding week, there were only 3 days of net buying out of 7, suggesting inconsistent accumulation. The price changed by +2.7% over the 8-day period, with a total volume delta of +$47,500,340. This day represents a slight dip in buying intensity relative to the weekly average, though short-term flows remain bullish.