Bitmine Stakes $13.8B in ETH as Treasury Nears 5% Supply

Bitmine Immersion Technologies has raised its Ethereum treasury to 6,016,414 ETH after purchasing another 15,112 tokens over the past week, leaving the company just short of its target to own 5% of Ethereum's total supply. According to the company's holdings update, the position is valued at roughly $16.4 billion based on a reference price of $2,726 per token, representing 4.9% of Ethereum's 122.1 million token supply.

Staking Operations and Revenue

According to CryptoNews, Bitmine has staked 5,067,309 ETH worth $13.8 billion, which represents 84% of its total Ethereum holdings. Current staking operations are projected to generate $363 million annually, based on a seven-day annualized yield of 2.63%. If the company fully stakes its entire Ethereum balance through its MAVAN platform and staking partners, projected annual staking rewards would rise to $431 million.

Macro Performance and Balance Sheet

Chairman Tom Lee noted that Bitmine has purchased ETH every week since launching its treasury strategy on June 30, 2025. Lee also highlighted Ethereum's performance against traditional markets during the third quarter, stating that ETH outperformed the S&P 500 by 6,832 basis points amid macroeconomic headwinds.

Alongside its core cryptocurrency holdings, Bitmine reported holding 214 Bitcoin, $643 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $117 million position in Eightco Holdings, bringing total crypto, cash, securities, and investments to $17.4 billion.

Key facts

• Bitmine raised its treasury to 6,016,414 ETH after acquiring 15,112 tokens over the past week.
• The company holds 4.9% of Ethereum's 122.1 million token supply.
• Bitmine has staked 5,067,309 ETH worth $13.8 billion, representing 84% of its total holdings.
• Projected annual staking revenue stands at $363 million, with potential to reach $431 million if all holdings are staked.