TheBlock
Tom Lee-chaired Bitmine holds 6,001,302 ETH, valued at about $16.1 billion, after buying another 17,362 ETH since its Sept. 21 update. The latest purchase is worth about $46.7 million at current prices; Bitmine did not disclose its average purchase price. Its total crypto, cash, marketable securities and other investments stand at $17.2 billion.
Why it matters
Bitmine's ETH holdings equal more than 4.9% of Ethereum's approximately 122.1 million circulating supply, putting the company 98% of the way to its stated 5% target. The accumulation has taken less than 15 months, according to Lee, who said the company is seeing network effects from building its position.
Bitmine has staked 5,067,309 ETH, or about 84% of its holdings, worth roughly $13.6 billion. The company projects $358 million in annualized staking revenue, while Lee said rewards could reach $424 million when its ETH is fully staked through MAVAN and partners. Bitmine reported a 2.62% annualized yield from its own staking operations over the latest seven-day period.
Market impact
The scale of the treasury makes Bitmine a major corporate holder of ETH and a significant participant in staking. Its buying adds a visible institutional treasury bid, while the amount already staked ties a large portion of its holdings to Ethereum's validator economy.
Bitmine also reported 213 BTC, stakes of $115 million in Eightco Holdings and $180 million in Beast Industries, plus $672 million in cash and marketable securities. It remains the largest Ethereum treasury holder, ahead of Sharplink and The Ether Machine. Lee also said ETH had outperformed other macro assets by 6,728 basis points quarter to date, and expects institutions to add crypto exposure in the final months of 2026.
Frequently asked questions
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How much ETH does Bitmine hold after its latest purchase?
Bitmine reported holdings of 6,001,302 ETH after buying 17,362 ETH since its Sept. 21 update. The holdings were valued at about $16.1 billion at current prices.
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How close is Bitmine to its 5% Ethereum supply target?
Its holdings represent more than 4.9% of Ethereum's approximately 122.1 million circulating ETH. Bitmine says it is 98% of the way to its 5% target.
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How much of Bitmine's ETH is staked?
Bitmine has staked 5,067,309 ETH, about 84% of its 6,001,302 ETH holdings. The staked ETH is valued at roughly $13.6 billion.
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What staking revenue does Bitmine project?
Bitmine projects $358 million in annualized staking revenue. Tom Lee said the figure could reach $424 million when its ETH is fully staked through MAVAN and its partners.
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What other assets did Bitmine report?
Bitmine reported 213 BTC, stakes of $115 million in Eightco Holdings and $180 million in Beast Industries, and $672 million in cash and marketable securities.
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