In Brief:

• Bitmine holds nearly 5.98 million ETH, placing the company within 2% of completing its targeted 5% Ethereum supply accumulation goal.
• Its broader $17.1 billion portfolio includes Bitcoin, cash, marketable securities, and major investments in both Eightco Holdings and Beast Industries.
• Bitmine stakes 5.07 million ETH, projects $357 million in annual revenue, and maintains its lead among corporate Ethereum holders.

Bitmine has expanded its Ethereum treasury to 5,983,940 ETH, bringing the company within reach of its 5% supply target. Bitmine acquired another 27,562 ETH worth approximately $75 million since its September 14 update.

However, Bitmine did not disclose its average acquisition price, while its Ethereum holdings now have an estimated market value of $16.3 billion. Bitmine’s ETH balance represents more than 4.9% of Ethereum’s circulating supply of approximately 122.1 million tokens.

Consequently, the company has completed 98% of its “Alchemy of 5%” target within 15 months of launching the strategy. According to Bitmine’s update, its cryptocurrencies, cash, marketable securities, and other investments reached $17.1 billion.

Besides Ethereum, Bitmine owns 212 Bitcoin worth $18.1 million and holds $714 million in cash and marketable securities. Additional investments include a $105 million Eightco Holdings stake and a $180 million position in Beast Industries.

Chairman Tom Lee linked the strategy to improving crypto fundamentals, tokenization growth, and renewed interest beyond artificial intelligence stocks. Lee reported that Ethereum outperformed other macro assets by 6,519 basis points during the quarter. He expects stronger institutional exposure during 2026’s fourth quarter.

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Staking Strategy Strengthens Bitmine’s Ethereum Revenue Potential

Bitmine has staked 5,067,309 ETH worth approximately $13.8 billion, representing nearly 85% of its Ethereum holdings. Its staking operations produced a seven-day annualized yield of 2.62%. Current projections place annual staking revenue at approximately $357 million.

Moreover, Bitmine estimates annual rewards could reach $421 million after staking its entire position through MAVAN and other partners. The company claims it has staked more Ethereum than any other entity worldwide, strengthening its position beyond treasury accumulation.

Meanwhile, Bitmine remains the largest corporate Ethereum holder, while Strategic ETH Reserve ranks Sharplink second with 888,938 ETH. Ether Machine follows with approximately 496,712 ETH, although Bitmine ranks second among all publicly traded cryptocurrency treasury companies.

Strategy holds first place with 846,000 Bitcoin worth $71.9 billion, representing more than 4% of Bitcoin’s maximum supply. Bitmine’s latest purchase places its 5% Ethereum target within reach while expanding staking income and preserving its corporate treasury lead.

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