BitMine Nears 6 Million ETH After Adding Another 27,180 Ethereum
BitMine Immersion Technologies has added another 27,180 Ethereum (ETH) to its treasury, bringing its total holdings close to 6 million tokens as the company moves toward its goal of controlling 5% of Ethereum’s total supply.
The company announced Monday that it held 5,956,378 ETH worth approximately $14.89 billion as of Sunday evening. Its holdings represent around 4.9% of Ethereum’s supply, leaving BitMine close to reaching its long-term target.
The latest purchase was slightly smaller than the previous week’s acquisition of 28,086 ETH, which pushed the company’s holdings above 5.93 million tokens.
BitMine Chairman Tom Lee said the company has purchased Ethereum every week since launching its treasury strategy on June 30, 2025. The buying streak highlights the firm’s continued focus on building a large ETH position rather than making short-term market trades.
Lee also pointed to Ethereum’s strong performance during the third quarter of 2026. Through the previous Friday, ETH had outperformed the S&P 500 by 5,866 basis points during the quarter. Solana (SOL) and Bitcoin (BTC) were also among the three best-performing macro assets since June 30.
According to Lee, the performance gap could encourage institutional investors to increase their cryptocurrency exposure as digital assets continue to outperform traditional markets.
BitMine’s total holdings were valued at $15.8 billion, including its Ethereum reserves, 212 Bitcoin, and $549 million in cash and securities. The company also held stakes in Beast Industries and Eightco Holdings valued at approximately $180 million and $98 million, respectively.
Staking Adds Revenue to Ethereum Treasury
Staking has become a major part of BitMine’s strategy. Around 5.07 million ETH, or roughly 85% of its Ethereum holdings, is currently staked.
The staked assets are expected to generate approximately $334 million in annualized revenue at a 2.62% yield. BitMine estimates that revenue could rise to $392 million if its entire ETH position were staked through MAVAN and its partners.
These estimates remain dependent on Ethereum’s market price and staking yields, which can change over time.
BitMine is not the only company looking to generate additional returns from its Ethereum holdings. Rival treasury firm SharpLink announced in August that it planned to stake $200 million through Lido. The arrangement would provide tokens representing staked Ethereum and rewards, which could also be used in decentralized finance applications.
The growing interest in Ethereum staking comes as companies expand their cryptocurrency treasury strategies beyond Bitcoin.
While BitMine and other firms continue accumulating altcoins, Bitcoin treasury leader Strategy reported no new Bitcoin purchases for the week ending September 13. Instead, the company spent approximately $139 million repurchasing preferred shares, according to a Monday filing.