BitMine adds 24,000 ETH, now holds 3.5% of circulating supply

BitMine Immersion Technologies added 24,266 ETH worth about $76 million over the past week, expanding its Ethereum treasury to more than 4.16 million ETH, valued at roughly $13 billion. The holdings represent around 3.5% of Ethereum’s circulating supply, making BitMine the largest Ethereum treasury and the second-largest crypto treasury overall, behind Strategy’s Bitcoin holdings.

Chairman Tom Lee said 2026 is shaping up to be a constructive year for crypto, with stablecoin adoption and real-world asset tokenization reinforcing Ethereum’s role as Wall Street’s settlement layer. Standard Chartered echoed this view in a research note, citing BitMine’s continued buying as a key catalyst for ETH’s potential outperformance versus Bitcoin.

While the bank lowered its near-term ETH price target to $7,500 for 2026, it raised its longer-term outlook, forecasting $30,000 by 2029 and $40,000 by 2030. ETH was recently trading around $3,132, while BitMine (BMNR) shares were up more than 3% on the day at $31.04.