Bitmine Boosts Ethereum Holdings to 4.9% of Supply
Bitmine Immersion Technologies has significantly expanded its Ethereum holdings, acquiring 15,112 ETH over the past week. The company now holds 6,016,414 ETH, representing 4.9% of Ethereum's total supply. At a price of $2,726 per ETH, Bitmine's holdings are valued at approximately $16.4 billion.
The majority of Bitmine's ETH, 5,067,309 tokens worth $13.8 billion, is staked through its MAVAN platform and other staking partners. This accounts for 84% of its total ETH balance. The company anticipates annualized staking revenues of $363 million, based on a seven-day annualized yield of 2.63%.
Beyond its Ethereum holdings, Bitmine reported a diverse portfolio including 214 Bitcoin, a $180 million stake in Beast Industries, a $117 million stake in Eightco Holdings, and $643 million in cash and marketable securities. The total value of its crypto, cash, and other holdings amounts to $17.4 billion as of Oct. 4.
Chairman Tom Lee highlighted Ethereum's strong performance, noting that ETH outperformed the S&P 500 by 6,832 basis points in the third quarter of 2026. Lee attributed this outperformance to ETH's resilience amid macro headwinds, such as a hawkish Federal Reserve, surging oil prices, rising global bond yields, and tightening financial conditions. As of Monday, ETH traded around $2,711, marking a 0.37% increase and over a 50% rise in the past three months.