BitMine Crosses 6 Million ETH as Tom Lee Reports Another Weekly Purchase

In Brief:

• BitMine added 17,362 ETH, lifting its treasury above six million tokens and advancing its stated five percent Ethereum supply target.
• The company stakes 5,067,309 ETH, representing roughly 84 percent of its holdings, while projected annualized staking revenue reaches $358 million.
• BitMine valued its combined assets at $17.2 billion, although Ethereum’s market price can substantially change the value of its treasury.

Tom Lee’s BitMine Immersion Technologies (BMNR) now holds more than 6 million Ethereum (ETH), bringing its 5% supply target within reach. According to the announcement, the company acquired 17,362 ETH during the week ending September 27, raising its treasury to 6,001,302 ETH from 5,983,940 ETH.

BitMine valued its Ethereum holdings at approximately $16.2 billion using a reference price of $2,698 per ETH. At that price, the latest addition was worth about $46.8 million, although BitMine did not disclose its purchase cost. The distinction matters because the reported dollar value reflects a market price, rather than the amount BitMine paid.

With the latest addition, BitMine holds approximately 4.9% of Ethereum’s reported supply of 122.1 million tokens. Consequently, the company estimates that it has reached about 98% of its goal of owning 5% of all ETH.

Lee reported that BitMine has purchased Ethereum every week since launching its treasury strategy on June 30, 2025. Its latest acquisition preserves that record and takes the company past 6 million ETH in less than 15 months.

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BitMine Stakes More Than 5 Million ETH as Its Treasury Grows

BitMine uses much of its Ethereum treasury for staking, which earns rewards while helping secure the network. As of September 27, the company reported 5,067,309 staked ETH, worth approximately $13.7 billion at its reference price.

That position represents about 84% of BitMine’s Ethereum holdings, leaving nearly 934,000 ETH outside its reported staked balance. Moreover, staking gives the company a potential source of revenue alongside changes in the market value of its treasury.

Lee projected $358 million in annualized staking revenue based on the company’s existing position and recent yields. He estimated $424 million in annualized rewards if BitMine staked its entire ETH treasury through its platform and partners.

However, those figures remain projections because staking yields and the number of tokens committed to staking can change. BitMine reported a 2.62% annualized yield across its staking operations over the preceding seven days.

Beyond Ethereum, the company reported 213 Bitcoin (BTC) and $672 million in cash and marketable securities. BitMine valued its combined crypto holdings, cash, securities, and other investments at $17.2 billion in its September 28 update.

Ethereum accounts for most of that reported value, making ETH’s market price central to the treasury’s dollar valuation. Lee also expects institutions to increase their crypto exposure, although that expectation offers no guarantee of higher ETH prices.

BitMine’s latest purchase brought its Ethereum holdings past 6 million tokens while narrowing the distance to its 5% supply target. Its staking figures also show how the company uses most of the ETH it has accumulated.

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