Bitmine Immersion Technologies surpasses 6 million ETH in treasury

Bitmine Immersion Technologies has surpassed 6 million Ethereum (ETH) tokens in its treasury, representing approximately 4.9% of the total circulating supply. The company reached this milestone following a recent purchase of 17,362 ETH, valued at nearly $47 million. This move brings the firm within reach of its “Alchemy of 5%” target, which aims to hold 5% of all ETH in circulation.

As of late September 2026, Bitmine’s total holdings—including crypto, cash, marketable securities, and equity stakes—are valued at approximately $17.2 billion. The company’s Ethereum position is valued at roughly $16.2 billion. Beyond ETH, the treasury includes 213 Bitcoin, $672 million in cash and securities, and equity stakes in Beast Industries and Eightco Holdings.

Bitmine has also focused heavily on staking, with 5,067,309 ETH (about 84% of its holdings) deployed through its MAVAN institutional staking platform. Based on a 2.62% seven-day annualized yield, the company projects current staking revenue at $358 million annually, with potential to reach $424 million if the entire treasury is staked. Chairman Tom Lee noted that the company has purchased Ethereum every week since June 30, 2025, and anticipates increased institutional exposure to crypto through the end of 2026.