Bitmine Nears 5% ETH Holding Target Amid Strengthening Macro Trend
Bitmine's Ethereum holdings have reached an impressive milestone of 5.98 million tokens after acquiring another 27,562 ETH over the past week. This brings its treasury to 4.9% of the total ETH supply and gets it close to its stated 5% accumulation target.
According to Bitmine, this latest purchase continues a buying streak that has lasted every week since its Ethereum Treasury Strategy began on June 30, 2025. At an ETH reference price of $2,688, the company's massive treasury position is valued at over $13.6 billion, with more than 5.06 million ETH already staked.
The staking operations generated a 7-day yield of 2.62%, with annualized staking revenues now projected at $357 million. Bitmine's broader holdings are also substantial, totaling $17.1 billion, which includes $714 million in cash and marketable securities, 212 BTC, a $180 million stake in Beast Industries, and a $105 million stake in Eightco Holdings.
Bitmine's management argues that Ethereum is strengthening as a macro asset, citing its performance against the S&P 500. ETH has outperformed the index by 6,519 basis points during Q3 2026 to date. The company expects institutional crypto exposure to increase during the final quarter.