BitMine Adds 53,501 ETH, Nears 5% Of Supply
Ethereum (ETH)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that BitMine Immersion Technologies acquired 53,501 ETH over the past week. This purchase brings the Nasdaq-listed company's total holdings to 5,901,112 ether, valued at $2,511 per coin. The acquisition extends a buying streak to 65 consecutive weeks and leaves BitMine holding 4.9% of Ethereum’s 120.7 million ETH supply.
The firm is nearing its stated goal of acquiring 5% of the supply under its “Alchemy of 5%” initiative. BitMine now holds the largest Ethereum treasury in the world, with a combined crypto, cash and securities position of $15.6 billion. Approximately 86% of its holdings are staked through its platform MAVAN, generating an annualized yield of 2.63%.
Chairman Thomas Lee attributed the accumulation to Ethereum outperforming the S&P 500 by 5,430 basis points in the third quarter. He framed the purchases as a bet that institutions will add crypto exposure late in 2026. The company was added to the Russell 1000 large-cap index on June 26, 2026, and trades under the symbol BMNP. This accumulation sharpens the debate over whether one holder controlling nearly one in twenty ETH tokens represents conviction or centralization risk.
How the market reacted
Whalio's own Binance spot order flow for ETH, measured when this story was written up on 31 August 2026. Not the outlet's figures.
ETH trades at $2,416.88 with a 1-hour buy ratio of 57.8% and a 4-hour buy ratio of 53.1%, indicating short-term buying pressure. This contrasts with the 24-hour buy ratio of 47.1%, suggesting that the intensity of buying is fading over a longer timeframe. The 1-hour volume delta is positive at $4,499,130, while the 4-hour delta is $10,194,397, showing recent net inflows. However, the 24-hour volume delta is -$37,283,881, and the cumulative volume delta (CVD) for the day closed at -$65,650,316. These negative long-term figures indicate that overall selling pressure has outweighed buying pressure over the last day. Spot volume for the period was $662,649,838 across 2,396,145 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.
Twenty-four hours later
What ETH did over the 23 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for ETH, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 49.9%, with the latest day showing a 2.8-point decrease from that average. Volume was 0.84 times the average, indicating lower activity than usual. Net buying occurred on 4 of the 7 days, with a total volume delta of -$69,415,960 for the period. The price changed by -1.9% over the eight-day window. This represents an ordinary day for the coin, as the current 24-hour buy ratio of 47.1% is close to the weekly average of 49.9%. The volume delta of -$37,283,881 for the day is also consistent with the negative weekly trend of -$69,415,960.