Bitmine Immersion Technologies Ethereum Holdings Surpass 6 Million ETH
Ethereum (ETH)
Editor:
Eugene Serbin
jrkripto.com reports that Bitmine Immersion Technologies announced the purchase of 17,362 Ethereum over the past week. This acquisition brings the company's total holdings to 6,001,302 ETH, a milestone reached in approximately 15 months. The purchase moves Bitmine closer to its 'Alchemy of 5%' goal, with current holdings representing roughly 4.9% of the total ETH supply.
Chairman Tom Lee confirmed the weekly acquisition and noted that the company has bought ETH every week since launching its treasury strategy on June 30, 2025. The report did not disclose the average price of these specific purchases, though the volume was valued at approximately $46.7 million based on cited prices. Bitmine’s total crypto assets, cash, and securities were valued at $17.2 billion using a reference price of $2,698 per Ethereum.
The portfolio also includes 213 Bitcoin, $672 million in cash and marketable securities, and stakes in Beast Industries and Eightco Holdings. Staking remains a core part of the strategy, with 5,067,309 ETH staked as of September 27, representing 84% of total holdings. This staking activity projects annualized revenue of $358 million, potentially rising to $424 million if the entire treasury is staked. Lee believes institutional allocations to crypto remain low and expects increased exposure from investors in the final months of the year.
How the market reacted
Whalio's own Binance spot order flow for ETH, measured when this story was written up on 28 September 2026. Not the outlet's figures.
Whalio’s Binance spot data for Ethereum shows a price of $2,688.65 with a 1-hour buy ratio of 51.5% and a 4-hour buy ratio of 54.9%. These short-term ratios indicate a slight edge for buyers compared to the 24-hour buy ratio of 47.4%, suggesting that buying pressure is currently building over shorter timeframes. The 1-hour volume delta is positive at $389,119, while the 4-hour delta is significantly higher at $14,646,313. In contrast, the 24-hour volume delta is negative at -$21,229,063, and the cumulative volume delta (CVD) for the day closed at -$65,700,086. This divergence means that while recent hours have seen net buying, the broader daily trend has been dominated by net selling. Spot volume over 24 hours totaled $413,981,188 across 1,157,755 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.
Over the preceding week, the average buy ratio was 48.6%, making today’s 24-hour ratio of 47.4% slightly below the weekly norm by 1.2 percentage points. Weekly volume was measured at 0.53x the average, indicating that trading activity was subdued compared to typical days. Net buying occurred on only 2 of the 7 days, and the total volume delta for the period was -$73,914,835. This suggests that the recent short-term buying spike is an unusual deviation from a week characterized by lower volume and net outflows. The price changed by +1.6% over the 8-day period, showing modest gains despite the negative flow delta.