BitMine expands Ethereum holdings to 5.98 million ETH

BitMine Immersion Technologies has expanded its Ethereum treasury by acquiring an additional 27,562 ETH over the past week, a purchase valued at approximately $75 million. This brings the company’s total holdings to 5,983,940 ETH, representing roughly 4.9% of the total Ethereum supply. The firm is nearing its target of controlling 5% of the circulating supply.

As of late September 2026, BitMine’s total crypto, cash, and private equity holdings are valued at approximately $17.1 billion. This portfolio includes 212 Bitcoin, $714 million in cash and marketable securities, and stakes in Beast Industries ($180 million) and Eightco Holdings ($105 million).

To generate revenue, BitMine has staked approximately 85% of its Ethereum holdings—roughly 5.06 million ETH—through its MAVAN platform. The company projects annualized staking revenues of approximately $357 million, with the potential to reach $421 million if its entire ETH position is deployed. Chairman Tom Lee noted that the company has maintained a consistent weekly buying streak since launching its Ethereum treasury strategy on June 30, 2025, and expressed optimism regarding increased institutional crypto exposure through late 2026.