Bitmine Expands Ethereum Holdings to 6.03M ETH, Reaching 4.9% of Supply

Bitmine Immersion Technologies disclosed that its $ETH holdings reached 6,028,946 tokens as of Oct. 11, representing 4.9% of the circulating 122.1 million ETH supply ¹. The balance brings the firm's total portfolio of crypto, cash, marketable securities, and strategic investments to $16.2 billion ¹. The announcement follows the firm's acquisition of 12,532 ETH over the prior week, keeping its weekly accumulation strategy uninterrupted since its inception on June 30, 2025 ¹.

According to the corporate disclosure, Bitmine's balance sheet includes 214 $BTC, $612 million in cash and marketable securities, an $85 million stake in Eightco Holdings, and a $180 million stake in Beast Industries ¹. Bitmine operates the largest corporate Ethereum treasury globally, second only to Strategy's treasury in overall digital asset size among publicly traded entities ¹. At the time of writing, ETH traded at $2,529, up 0.6% over 24 hours.

Institutional Staking Operations

The company has allocated 5,067,309 ETH—roughly 84% of its token holdings—to staking through its validator infrastructure, the Made in America Validator Network (MAVAN) ¹. Bitmine Chairman Thomas Lee stated that the staked balance generated $336 million in annualized revenue based on a 2.61% seven-day yield, with full staking capacity expected to yield $400 million annually ¹.

Bitmine is targeting ownership of 5% of the total ETH supply, an objective the firm noted it has achieved 99% of within 15 months ¹. The firm previously gained inclusion into the Russell 1000 index on June 26, 2026, and lists its 9.5% Perpetual Preferred stock on the NYSE under BMNP ¹. Institutional backers supporting the accumulation strategy include Founders Fund, Pantera, Kraken, Digital Currency Group, and Galaxy Digital ¹.