BitMine Expands Ethereum Holdings to 4.9% of Total Supply

BitMine Immersion Technologies has significantly expanded its Ethereum holdings, now holding 6,016,414 ETH, which represents 4.9% of the total supply. The company's combined assets, including crypto, cash, marketable securities, and other investments, have reached $17.4 billion. BitMine valued its Ethereum at $2,726 per ETH as of October 4 and is just 0.1 percentage point away from its goal of owning 5% of Ethereum's total supply, a strategy it calls the “Alchemy of 5%.”

The company has staked 5,067,309 ETH, valued at $13.8 billion, which accounts for 84% of its total ETH holdings. BitMine reported a seven-day annualized yield of 2.63% from staking, projecting annualized staking revenue of $363 million. If all its ETH were staked through MAVAN and partner infrastructure, the annualized staking rewards could reach approximately $431 million.

Beyond Ethereum, BitMine's portfolio includes 214 BTC, a $180 million stake in Beast Industries, a $117 million stake in Eightco Holdings, and $643 million in cash and marketable securities. Chairman Tom Lee noted that BitMine has been acquiring ETH continuously since launching its treasury strategy on June 30, 2025, purchasing an additional 15,112 ETH last week. The company aims to maintain its position as the largest Ethereum treasury and the second-largest global crypto treasury behind Strategy.

BitMine's expansion comes amid growing interest in Ethereum's institutional ecosystem, focusing on staking, treasury management, and infrastructure. The next milestone for the company is achieving its 5% supply objective while managing the risks associated with holding such a large treasury.