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Basis Desk
Institutions & ETFs · 1 min read

Bitmine Surpasses 6 Million ETH Holdings Valued at $17.2B

The NYSE-listed firm has amassed 4.9% of total circulating ether in 15 months and staked over 5 million tokens.

Bullish
$ETH $2,682 −0.9% $BTC $83,450 −1.8%

Key points

  • Bitmine holds 6,001,302 ETH, representing 4.9% of the circulating ether supply, as part of a $17.2 billion asset reserve.
  • The company has staked 5,067,309 ETH, yielding a projected $358 million in annualized staking revenue at a 2.62% 7-day rate.
  • Treasury reserves also include 213 BTC, $672 million in cash and securities, and equity stakes in Beast Industries and Eightco.

Bitmine Immersion Technologies announced on Sept. 28, 2026, that its balance sheet holdings across cryptocurrencies, cash, and marketable securities reached $17.2 billion 1. The total includes 6,001,302 tokens of $ETH, representing 4.9% of the network's 122.1 million token supply, accumulated since launching its treasury strategy on June 30, 2025 1. At the time of writing, $ETH trades around $2,689.

According to the corporate update, Bitmine bought 17,362 ETH over the trailing week 1. Alongside ether, the firm held 213 $BTC, $672 million in cash and marketable securities, a $180 million position in Beast Industries, and $115 million in Eightco Holdings equity as of Sept. 27 1. The company noted its crypto holdings place it as the second-largest corporate digital asset treasury globally behind Strategy Inc., which Bitmine reported holds 845,080 BTC 1.

Staking Operations and Market Activity

Bitmine has committed 5,067,309 ETH—roughly 84% of its balance—to staking, valued at $13.7 billion based on a $2,698 unit price as of Sept. 27 1. These assets yield 2.62% annualized on a seven-day basis, generating projected annualized staking revenues of $358 million 1. Full treasury deployment across its MAVAN validator platform and external partners would raise projected rewards to $424 million annually 1.

The company noted it was included in the Russell 1000 index on June 26, 2026, and cited Fundstrat figures recording $1.1 billion in five-day average daily dollar volume as of Sept. 25, ranking 94th among US equities 1. Bitmine's institutional backers include Cathie Wood's ARK, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital 1. Chairman Thomas Lee will deliver a keynote addressing macro digital asset trends at Korea Blockchain Week on Sept. 30 1.

Sources

  1. [1] Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach over 6 Million Tokens with Total Crypto, Cash & Marketable Securities Holdings of $17.2 Billion — prnewswire.com, September 28, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: hello@basisdesk.news.

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Not financial advice. Basis Desk publishes information, not recommendations. Crypto assets are volatile and you can lose what you invest.