Nikolas Sargeant
TL;DR
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Bitmine acquired another 27,562 ETH, raising its holdings to 5,983,940 ETH.
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Its ether was worth about $16.3 billion at the price cited in the company’s Monday update.
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Bitmine says it has staked 5,067,309 ETH, roughly 85% of its holdings.
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The company holds more than 4.9% of Ethereum’s estimated circulating supply, close to its 5% target.
Ethereum treasury company Bitmine purchased 27,562 ETH since its Sept. 14 update, lifting its holdings to 5,983,940 ETH, the company reported Monday.
At the ether price cited in the report, its holdings were worth approximately $16.3 billion, and the latest addition was worth about $75 million. Bitmine did not disclose what it paid for the new tokens.
The company reported $17.1 billion in total crypto assets, cash, marketable securities and other investments as of Sept. 20.
Those assets also included 212 BTC, stakes valued at $105 million in Eightco Holdings and $180 million in Beast Industries, and $714 million in cash and marketable securities.
Ethereum Holdings Approach Bitmine’s 5% Goal
Bitmine’s ETH represents more than 4.9% of Ethereum’s estimated 122.1 million circulating tokens. The company says it is roughly 98% of the way toward its goal of holding 5% of the supply.
It remains the largest publicly traded Ethereum treasury holder. Sharplink holds approximately 888,938 ETH, while The Ether Machine holds around 496,712 ETH, according to Strategic ETH Reserve data cited in the report.
Across public crypto treasury companies, Bitmine ranks second by the value of its principal crypto holdings, behind Strategy and its 846,000 BTC.
Bitmine says it has staked 5,067,309 ETH, worth approximately $13.8 billion at the price used in its update. That accounts for about 85% of its total ether holdings.
The company projects annualized staking revenue of $357 million at its current scale. Lee said that figure could rise to $421 million if Bitmine stakes all its ETH through MAVAN and its staking partners.
Those figures are projections, rather than guaranteed earnings. Bitmine said its own staking operations generated a 2.62% annualized yield over the preceding seven days.
Tom Lee Forecasts Stronger Fourth Quarter
Bitmine Chairman Tom Lee said he believes a crypto bull market began in late June, citing tokenization, AI-related activity and a possible shift in investor interest from AI stocks toward digital assets.
Lee expects institutions that have held relatively little crypto this year to increase their exposure during the final three months of 2026. He also views ETH’s third-quarter performance as a possible precursor to further gains in the fourth quarter.
The forecast remains uncertain. Bitmine’s large ETH position means changes in ether’s price and staking returns will have a substantial effect on the value and income generated by its treasury.
