- Bitmine acquired another 27,562 ETH, bringing its total holdings to 5,983,940 ETH worth approximately $16.3 billion.
- The company now holds more than 4.9% of Ethereum’s circulating supply and says it is 98% of the way toward its “Alchemy of 5%” target.
- Bitmine has staked 5,067,309 ETH, or about 85% of its holdings, with annualized staking revenue currently projected at $357 million.
Bitmine has added another 27,562 ETH to its treasury, pushing the company’s total Ethereum holdings to 5,983,940 ETH.
The latest acquisition is worth approximately $75 million at current prices, although Bitmine did not disclose its average purchase price.
Its Ethereum position is now valued at around $16.3 billion, while the company reported $17.1 billion in total crypto, cash, marketable securities and other investments.
With Ethereum’s circulating supply at approximately 122.1 million ETH, Bitmine now controls more than 4.9% of the total.
Bitmine Nears Its 5% Ethereum Target
Bitmine says it has reached 98% of its “Alchemy of 5%” target, which aims to build a treasury equal to 5% of Ethereum’s circulating supply.
The company reached its current position within 15 months of beginning its Ethereum treasury strategy.
Bitmine remains the largest Ethereum treasury holder, ahead of Sharplink and The Ether Machine, which hold approximately 888,938 ETH and 496,712 ETH, respectively.
It is also the second-largest public crypto treasury company overall, behind Strategy, which holds 846,000 BTC following its latest acquisition.
Bitmine Stakes More Than 5 Million ETH
Bitmine has also staked 5,067,309 ETH worth approximately $13.8 billion, representing about 85% of its total Ethereum holdings.
The company said its annualized staking revenue is currently projected at $357 million.
Bitmine’s own staking operations generated a seven-day annualized yield of 2.62%.
Chairman Tom Lee said that once the company’s ETH is fully staked through MAVAN and its staking partners, projected annual staking rewards could reach approximately $421 million.
Bitmine also holds 212 BTC worth $18.1 million, a $105 million stake in Eightco Holdings and a $180 million stake in Beast Industries. Its cash and marketable securities totaled $714 million as of Sept. 20.
Tom Lee Expects More Institutional Crypto Demand
Lee said he believes a crypto bull market began in late June, pointing to stronger fundamentals around tokenization and AI, a rotation from AI stocks toward crypto and what he described as the end of the traditional four-year cycle.
He said ETH has outperformed other macro assets during the third quarter and views that strength as a potential setup for further gains during the final quarter of 2026.
Lee also expects institutions to increase their crypto exposure during the final three months of the year after being underweight the asset class earlier in 2026.
Bitmine’s continued accumulation leaves the company increasingly close to completing its 5% Ethereum supply target while expanding the staking revenue generated from its holdings.
