Bitmine closes in on 5% of ETH supply after buying $68M in ETH last week

Bitmine Immersion Technologies said its Ethereum holdings reached 5.96 million ETH as the company continued buying the asset under its long term treasury strategy.

As of September 13, Bitmine held 5,956,378 ETH valued at about $15 billion based on an ETH price of $2,513. The company also held 212 Bitcoin, $549 million in cash and marketable securities, a $180 million stake in Beast Industries and a $98 million stake in Eightco Holdings.

Total crypto, cash, marketable securities and other investments stood at $15.8 billion.

Bitmine said its Ethereum position now represents approximately 4.9% of the cryptocurrency’s 122 million token supply. The company purchased another 27,180 ETH during the past week and has bought Ethereum every week since launching its treasury strategy on June 30, 2025.

The company remains the largest corporate Ethereum treasury and the second largest crypto treasury globally behind Strategy.

Bitmine has also staked more than 5.06 million ETH, representing roughly 85% of its total holdings. The company said its staking operations generated an annualized seven day yield of 2.62%.

At that rate, Bitmine currently projects approximately $334 million in annualized staking revenue. Management estimates annual rewards could rise to about $392 million once its Ethereum holdings are fully staked through its MAVAN validator network and staking partners.

Chairman Tom Lee said Ethereum’s performance against Bitcoin has strengthened in 2026 as investors increasingly focus on tokenization and potential blockchain applications involving agentic AI.

Lee also pointed to potential regulatory developments, institutional demand and increasing crypto activity in South Korea as possible catalysts for the market during the final months of 2026.