TL;DR
- BitMine Immersion Technologies increased its Ethereum holdings to 6.02 million ETH, equal to 4.9% of supply, while total crypto, cash, marketable securities and moonshot holdings reached $17.4 billion.
- The company has 5.07 million ETH staked, representing 84% of its holdings and producing projected annualized staking revenue of $363 million.
- BitMine acquired another 15,112 ETH last week and remains close to its stated goal of owning 5% of Ethereum’s total supply.
BitMine Immersion Technologies has expanded its Ethereum treasury to 6,016,414 ETH, bringing its combined crypto, cash, marketable securities and “moonshot” holdings to $17.4 billion. In the official update, the company valued its Ethereum at $2,726 per ETH as of October 4 and said the position equals 4.9% of the network’s 122.1 million ETH supply. BitMine is now within 0.1 percentage point of its stated goal to own 5% of all ETH, a strategy it calls the “Alchemy of 5%.”
Staking Turns BitMine’s ETH Treasury Into a Yield Strategy
The company has 5,067,309 ETH staked, valued at $13.8 billion using the same reference price and representing about 84% of its total ETH holdings. BitMine said its staking operations generated a seven-day annualized yield of 2.63%, putting projected annualized staking revenue at $363 million. The scale of the staked position turns BitMine’s treasury from a passive ETH reserve into a revenue-generating operation, reflecting the wider shift among ETH treasury firms toward staking income.
BitMine also said that if its entire ETH balance were staked through MAVAN and partner infrastructure, annualized staking rewards could reach approximately $431 million at the same 2.63% yield. MAVAN, launched earlier in 2026, has expanded beyond BitMine’s own treasury to serve institutional investors, custodians and ecosystem partners. The company is increasingly linking its accumulation strategy with institutional staking infrastructure, a model that fits the broader debate around Ethereum treasury companies as public-market vehicles.
The balance sheet extends beyond Ether. BitMine reported 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 said the company acquired another 15,112 ETH during the past week and has purchased ETH every week since launching its treasury strategy on June 30, 2025. Continuous accumulation remains the core mechanism behind BitMine’s rapid approach to the 5% target, while its broader portfolio provides additional liquidity and investment exposure.
BitMine describes itself as the largest Ethereum treasury and the second-largest global crypto treasury behind Strategy. Its expansion comes as Ethereum’s institutional ecosystem continues developing around staking, treasury management and infrastructure. The immediate milestone is no longer crossing 6 million ETH, but whether BitMine completes its 5% supply objective while managing the concentration, staking and market risks created by a treasury of this scale across future crypto market cycles.
