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BitMine buys $68M in Ethereum, nearing 6M ETH holdings, aiming for 5% of total supply.

Market News
15 Sep 2026
Cointribune
View Source
Bullish
BitMine buys $68M in Ethereum, nearing 6M ETH holdings, aiming for 5% of total supply.

BitMine Immersion Technologies purchased 27,180 ETH for about $68 million, bringing its Ethereum reserves to 5.96 million ETH, close to 5% of the total supply. The company has consistently bought Ethereum weekly since June 2025 and stakes 85% of its holdings, generating significant annual revenue. BitMine's strategy positions it as a major Ethereum validator and investor, with potential market catalysts like the Clarity Act vote and Korean investor interest expected to support crypto by late 2026. However, price volatility remains a key risk for the company's large Ethereum holdings.

Ethereum trades at Rp44,089,610 on Pluang as of Sep 15, 2026 13:21 WIB, showing a slight 0.88% decline in the past day. Despite BitMine Immersion Technologies' large accumulation nearing 6 million ETH, Pluang's order activity leans more towards buying at 60%, with typical holders keeping their positions for about 106 days. The market cap stands at Rp5.368,11 trillion, reflecting Ethereum's significant presence in the crypto market as BitMine strengthens its stake.

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