---
title: "Bitmine Surpasses 6 Million ETH Holdings Valued at $17.2B"
description: "The NYSE-listed firm has amassed 4.9% of total circulating ether in 15 months and staked over 5 million tokens."
url: https://basisdesk.news/news/bitmine-eth-treasury-reaches-6-million-tokens
published: 2026-09-28T13:40:50.888Z
modified: 2026-09-28T13:40:50.888Z
section: Institutions & ETFs
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: bullish
tickers: [ETH, BTC]
tags: [Bitmine, Ethereum, Staking, Treasury, Corporate Balance Sheet]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# 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.

## 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.

## Editorial remark

- **Context:** Bitmine started accumulating ether systematically on June 30, 2025, attempting to acquire 5% of the total circulating supply under its corporate treasury strategy.
- **Impact:** With over 5 million ETH locked into validators via MAVAN and institutional partners, Bitmine removes substantial float from circulating liquidity while generating yield.
- **Watch:** Chairman Thomas Lee's keynote address at Korea Blockchain Week on Sept. 30, 2026, and the company's progress toward closing the remaining 2% gap of its 5% accumulation target.

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. [Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach over 6 Million Tokens with Total Crypto, Cash & Marketable Securities Holdings of $17.2 Billion](https://www.prnewswire.com/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-over-6-million-tokens-with-total-crypto-cash--marketable-securities-holdings-of-17-2-billion-302891056.html) — prnewswire.com, 2026-09-28

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Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai