Bitmine's ether holdings pass 6 million after latest weekly purchase
Tom Lee's Ethereum treasury company bought another 17,362 ETH, taking its total to 6,001,302 ETH and pushing it close to its 5% supply target.
Key points
- Bitmine bought 17,362 ETH since its 21 September update, bringing holdings to 6,001,302 ETH.
- Total crypto, cash, marketable securities and other investments stood at $17.2 billion.
- The company holds more than 4.9% of Ethereum's roughly 122.1 million circulating supply.
- Bitmine has staked 5,067,309 ETH, with annualised staking revenue projected at $358 million.
- Strategy remains the largest public crypto treasury firm with 847,666 BTC, ahead of Bitmine overall.
Bitmine's ether holdings have passed 6 million after the Tom Lee-chaired company bought another 17,362 ETH, The Block reports. The Ethereum treasury firm said on Monday that its total crypto, cash, marketable securities and other investments stood at $17.2 billion.
The latest purchase, made since the company's previous update on 21 September, takes Bitmine's total to 6,001,302 ETH. At current prices that stack is worth around $16.1 billion, while the new acquisition alone is worth roughly $46.7 million. Bitmine did not disclose the average price it paid.
Lee described the milestone as a tremendous achievement, noting the company had accumulated the total in under 15 months. He said Bitmine was already seeing synergies and positive network effects from holding close to 5% of ether's total supply.
Bitmine passes six million ether
Bitmine's ether is equivalent to more than 4.9% of Ethereum's circulating supply of about 122.1 million ETH, according to The Block's ether price page. That puts the company 98% of the way towards its Alchemy of 5% supply target, which it set when it began its Ethereum treasury strategy.
The company has staked 5,067,309 ETH, worth about $13.6 billion, and Lee said it has staked more ether than any other entity in the world. He said annualised staking revenues are projected at $358 million, rising to $424 million once all of Bitmine's ether is staked through MAVAN and its staking partners. Bitmine's own staking operations produced a seven-day yield of 2.62% on an annualised basis.
As of 27 September, Bitmine also held 213 BTC worth $17.8 million, a $115 million stake in Eightco Holdings, a $180 million stake in Beast Industries, and $672 million in cash and marketable securities. It remains the largest Ethereum treasury holder, ahead of Joe Lubin's Sharplink with about 888,938 ETH and The Ether Machine with 496,712 ETH, according to SER data.
Staking and treasury assets
Across all public crypto treasury companies, Bitmine ranks second behind Michael Saylor's Strategy, which holds 847,666 BTC worth $70.6 billion after its own weekly purchase, also announced on Monday. Lee added that he sees affirming signs of a crypto bull market that began in late June, and expects institutions to add to their exposure in the final months of 2026.