# Bitmine adds 42,197 ETH, pushes treasury to 4.8% of supply

**Published:** 2026-07-07T15:49:08.058Z  
**Topic:** Ethereum  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/f192e554-4b39-41c9-942d-0a2ea5e00318

Bitmine bought 42,197 Ether, raising its holdings to 5.74 million (4.8% of circulating ETH) as ETH trades near $1,747, highlighting its “alchemy of 5%” goal

Bitmine Immersion Technologies bought 42,197 Ether in the past week, lifting its Ethereum treasury to 5,742,237 ETH—about 4.8% of the circulating supply—and bringing its total crypto‑plus‑cash assets above $11 billion [1]. The purchase comes as Ethereum trades around $1,747, down 1.1% over 24 hours, and follows Strategy’s recent disposal of 3,588 BTC for roughly $216 million.  

| At a glance | |
|---|---|
| ETH added | 42,197 ETH |
| Treasury share | 4.8 % of circulating ETH |
| Total crypto‑cash assets | $11.1 billion |
| ETH price | $1,747 (‑1.1 % 24 h) |

## Treasury expansion and staking footprint  
Bitmine’s latest acquisition raises its total Ethereum holdings to 5.74 million tokens, valued at roughly $10.27 billion (using the $1,800 price cited in its release) and positioning the firm just shy of its publicly stated “alchemy of 5%” target for 2026 [2]. The company now controls the second‑largest public crypto treasury after Strategy, which recently liquidated Bitcoin. Bitmine also reports 4.88 million ETH staked through its MAVAN validator network, generating an estimated $235 million of annual staking revenue [1][3].  

## Market context and competitive moves  
Ethereum’s price sits just below the $1,750 technical threshold identified by analyst Ali Martinez, a level that, if defended, could open a rally toward $1,800–$1,826; a breach would invalidate the bullish TD Sequential pattern [3]. Meanwhile, Strategy’s Bitcoin sell‑off underscores divergent treasury strategies among large public firms, with Bitmine continuing to accumulate ETH while Strategy trims BTC exposure to fund dividends.  

## What to watch  
- ETH price holding above $1,750 to keep the TD Sequential buy signal intact.  
- Bitmine’s progress toward the 5% ETH supply goal, requiring an additional ~$523 million of purchases at current prices.  
- Any regulatory developments around the Clarity Act that could affect Ethereum’s institutional adoption, as highlighted by Bitmine’s chairman.  

Bitmine’s aggressive ETH accumulation underscores a bet on Ethereum’s long‑term value and staking yields, while the contrasting Bitcoin divestiture by Strategy raises questions about how large public treasuries will balance exposure across the leading crypto assets.

## Sources
1. Crypto Briefing — [Bitmine buys 42,197 Ether as crypto and cash holdings surpass $11B](https://cryptobriefing.com/bitmine-buys-42197-ether-as-crypto-cash-holdings-surpass-11b/)
2. Live Bitcoin News — [Bitmine Acquires 42,197 ETH in a Week, Holdings Rise to 5.74M ETH](https://www.livebitcoinnews.com/bitmine-acquires-42197-eth-in-a-week-holdings-rise-to-5-74m-eth/)
3. Blockonomi — [Ethereum (ETH) Price Hovers Near $1,747 as BitMine Expands Holdings and TD Sequential Flashes Buy](https://blockonomi.com/ethereum-eth-price-hovers-near-1747-as-bitmine-expands-holdings-and-td-sequential-flashes-buy/)

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Cite as: TrendWatcher, "Bitmine adds 42,197 ETH, pushes treasury to 4.8% of supply", https://www.trendwatcher.in/article/f192e554-4b39-41c9-942d-0a2ea5e00318