Key Insights:
- BitMine purchased 17,362 ETH last week, taking its holdings to 6,001,302 ETH.
- The company holds about 4.9% of Ethereum’s supply; its combined holdings are $17.2 billion.
- BitMine has staked 5,067,309 ETH at a reported seven-day annualized yield of 2.62%.
BitMine Immersion Technologies now holds 6,001,302 ETH after buying another 17,362 tokens in the week ended Sept. 27. At the $2,698 per ETH reference price in Monday’s update, its ether holdings were worth about $16.2 billion.
That holding equals about 4.9% of the 122.1 million ETH supply used in BitMine’s report. The firm says it has reached 98% of its goal to own 5%.
Its combined crypto, cash, marketable securities, and two equity stakes stood at $17.2 billion. The purchase also continued its run of weekly Ethereum additions.
How BitMine Crossed the 6 Million ETH Treasury Mark
BitMine purchased fewer tokens than the prior week, when it added 27,562 ETH. Monday’s release does not give an average price for the latest purchase.
At its Sept. 27 reference price, the 17,362 ETH would be worth about $46.8 million. That estimate applies a market snapshot to the token count. It does not reveal what the company paid.
Since June 30, 2025, the firm has reported an ETH purchase in every weekly update. The latest addition lifted its balance above six million without moving its reported supply share beyond roughly 4.9%. Reaching 5% depends on future purchases and Ethereum’s circulating supply at the time.
Lee calls the target the “Alchemy of 5%” and says the company is 98% of the way there. BitMine has not given a date for reaching the target. Its latest release instead records the ETH balance at 3 p.m. Eastern Time on Sunday.
What Makes Up the $17.2 Billion in Combined Holdings
The $17.2 billion figure includes assets beyond Ethereum. The company reports 213 BTC, $672 million in cash and marketable securities, and two equity stakes. It values its Beast Industries investment at $180 million and its Eightco position at $115 million. Those items sit alongside the roughly $16.2 billion ether treasury.
BitMine reported $17.1 billion across the same categories a week earlier. Its ether count rose by 17,362, while cash and marketable securities fell from $714 million to $672 million. The company also raised its reported stake in Eightco from $105 million to $115 million. The change in the combined figure reflects more than the new ETH purchase.
The latest release lists one more bitcoin than the Sept. 21 disclosure, which recorded 212 BTC. BitMine identifies Ethereum accumulation as its treasury strategy. It classifies the two equity positions as separate investments. The $17.2 billion figure, therefore, reflects the combined value of several asset types.
How BitMine Calculates Yield on 5 Million Staked ETH
BitMine has staked 5,067,309 ETH, equivalent to about 84% of its reported holdings. At the company’s $2,698 reference price, that position was worth roughly $13.7 billion. The staked token count matched its Sept. 21 update despite another week of buying.
Staking assigns ETH to validators that help secure the network and earn protocol rewards. BitMine launched its MAVAN validator platform in 2026 for its own treasury. It now also serves institutional investors, custodians, and ecosystem partners. The company says a portion of its ETH runs through MAVAN; it does not give the exact share.
Lee puts the seven-day annualized yield from BitMine’s staking operations at 2.62%. Using that rate, he projects $358 million in annual staking revenue at the current staked balance. A fully staked treasury could produce an estimated $424 million annually under the same yield assumption.
Both figures are projections based on a short measurement period. They change with the yield, ETH price, and amount staked.
