BitMine Adds 27,562 ETH as Treasury Tops $17 Billion

BitMine’s Ether Treasury Surpasses 5.98 Million Tokens

BitMine Immersion Technologies (NYSE: BMNR), the Ethereum treasury company chaired by Tom Lee, disclosed Monday that it acquired 27,562 ETH over the prior week, lifting its holdings to 5,983,940 tokens — about 4.9% of the total supply — and pushing its crypto and cash reserves past $17 billion, according to a company release. The disclosure cements BitMine’s standing as the largest public holder of ether.

Treasury Nears the 5% Milestone

As of September 20, BitMine held 5,983,940 ETH priced at $2,688 per token, alongside 212 Bitcoin, $714 million in cash and marketable securities, a $180 million stake in Beast Industries and a $105 million stake in Eightco Holdings (NASDAQ: ORBS). The company put its combined crypto, cash and equity holdings at $17.1 billion and said the ETH position alone equals 4.9% of a 122.1 million-token supply. It labels the Beast Industries and Eightco positions as “moonshots” alongside its staking and cash businesses.

“Over the past week, we acquired 27,562 $ETH,” Lee said in the release. “BitMine has bought $ETH each and every week since the inception of its $ETH Treasury Strategy on June 30, 2025.”

Staking Turns the Treasury Into Income

The bulk of the position now earns yield. BitMine said 5,067,309 ETH — worth $13.6 billion, or 85% of its holdings — is staked, generating a 7-day yield of 2.62% annualized. “Bitmine has staked more $ETH than other entities in the world,” Lee said, adding that annualized staking revenue is now projected at roughly $357 million, rising to $421 million once the stack is fully deployed through its MAVAN staking platform. The update follows last week’s disclosure, when BitMine’s holdings crossed 5.96 million ETH.

Largest Ether Treasury Extends Its Weekly Streak

The latest purchase keeps intact an unbroken weekly buying streak that began with the strategy’s launch in mid-2025. The Norwalk, Connecticut-based company funds the program through its bitcoin mining operations and the proceeds of capital raises, and it has stepped up buying as institutional interest in ether grows. With 4.9% of the supply already in hand, it is closing in on the 5% share it has flagged as a milestone — a goal its materials call the “alchemy of 5%”.

Why This Matters

BitMine’s aggressive accumulation represents one of the most significant institutional treasury strategies centered on Ethereum, distinct from the more common Bitcoin-focused corporate treasury models. By consistently purchasing ETH weekly since June 2025 and staking the vast majority of holdings, the company has created a yield-generating asset base that produces projected annual revenue of $357–421 million from staking alone. The approach signals growing institutional confidence in Ethereum’s proof-of-stake economics and could influence other public companies evaluating crypto treasury allocations. The 5% supply threshold — which BitMine is approaching — would represent an unprecedented concentration of ETH in a single public entity’s hands, potentially affecting market dynamics and governance considerations.

Frequently Asked Questions

How much ETH does BitMine currently hold?

As of September 20, BitMine holds 5,983,940 ETH, representing approximately 4.9% of the total 122.1 million token supply.

What is the value of BitMine’s staked ETH and what yield does it generate?

5,067,309 ETH (worth $13.6 billion) is staked, generating a 7-day annualized yield of 2.62%, with projected annual staking revenue of $357 million rising to $421 million upon full deployment through the MAVAN platform.

How does BitMine fund its weekly ETH purchases?

The Norwalk, Connecticut-based company funds its ETH Treasury Strategy through bitcoin mining operations and proceeds from capital raises.