Bitmine Reaches 5.98M ETH Holdings as Treasury Nears 5% Target
Bitmine's Ethereum treasury continues to grow, reaching 5.98 million tokens after acquiring another 27,562 ETH over the past week. As of September 20, this positions the company at 4.9% of the total ETH supply and just 0.1 percentage point away from its stated 5% accumulation target.
The latest purchase is part of a buying streak that has lasted every week since Bitmine's Ethereum Treasury Strategy began on June 30, 2025. At an ETH reference price of $2,688, the company's 5.98 million ETH represents a massive treasury position, with more than 5.06 million ETH already staked.
The staked balance is valued at approximately $13.6 billion and accounts for about 85% of Bitmine's total ETH holdings. The company reported a 7-day yield of 2.62%, with annualized staking revenues now projected at $357 million through its institutional-grade Ethereum staking platform, MAVAN.