- Bitmine Immersion Technologies acquired another 15,112 ETH over the past week, increasing its Ethereum treasury to 6,016,414 ETH.
- The company now holds approximately 4.9% of Ethereum’s 122.1 million token supply, with its ETH position worth around $16.4 billion at $2,726 per token.
- Bitmine has staked 5,067,309 ETH worth approximately $13.8 billion and projects annualized staking revenue of $363 million.
Bitmine Immersion Technologies has expanded its Ethereum treasury beyond 6 million ETH after acquiring another 15,112 tokens over the past week.
The company now holds 6,016,414 ETH, worth approximately $16.4 billion based on an Ethereum price of $2,726.
That position represents around 4.9% of Ethereum’s total 122.1 million token supply, keeping Bitmine close to its previously stated goal of accumulating 5% of ETH supply.
Bitmine reported total crypto, cash, marketable securities and other holdings of approximately $17.4 billion as of Oct. 4.
Bitmine Stakes 84% of Its Ethereum
A substantial portion of Bitmine’s Ethereum treasury is being used for staking.
The company currently has 5,067,309 ETH staked through its MAVAN platform and other staking partners. The position is worth approximately $13.8 billion and represents around 84% of Bitmine’s total ETH holdings.
Based on a seven-day annualized staking yield of 2.63%, Bitmine projects that its staked Ethereum could generate approximately $363 million in annualized revenue.
This gives the company a source of recurring yield alongside its direct exposure to Ethereum’s price.
Total Holdings Reach $17.4 Billion
Beyond Ethereum, Bitmine holds several other assets and investments.
The company reported owning 214 BTC alongside a $180 million stake in Beast Industries and a $117 million stake in Eightco Holdings.
Bitmine also holds approximately $643 million in cash and marketable securities.
Combined, its crypto assets, cash, marketable securities and other investments were valued at approximately $17.4 billion as of Oct. 4.
Tom Lee Highlights Ethereum Outperformance
Bitmine Chairman Tom Lee reiterated the company’s bullish view on Ethereum following its performance during the third quarter.
According to Lee, ETH outperformed the S&P 500 by 6,832 basis points during the quarter despite tighter financial conditions.
“The outperformance of ETH by 6,832bp relative to the S&P 500 in 3Q26 is notable considering the substantial macro headwinds that emerged in the quarter including a ‘hawkish’ Fed, surging oil, rise in global bond yields and general tightening of financial conditions,” Lee said.
Ethereum was trading around $2,711 on Monday, up 0.37%. The cryptocurrency has gained more than 10% over the past month and more than 50% over the past three months.
Bitmine shares last closed at $26.27, down 1.72%.
