Bitmine Adds 27,180 ETH, Nears 6 Million Token Holdings

Bitmine Immersion Technologies disclosed on Monday that it purchased 27,180 Ethereum tokens last week, bringing its total holdings to approximately 5.956 million ETH. The acquisition, valued at roughly $68 million, increases the company's stake in Ethereum's circulating supply to about 4.9 percent. The company's total crypto, cash, securities, and strategic investments are now valued at approximately $15.8 billion. The company stated that about 85 percent of its Ethereum holdings, or approximately 5.067 million ETH, are currently staked. Based on a seven-day annualized yield of 2.62 percent, Bitmine projects this staking activity generates annualized revenue of $334 million. The company noted that revenue could reach $392 million if all its ETH were staked through its partners, though both projections depend on token prices and yields. Bitmine Chairman Tom Lee stated that Ethereum has been the best-performing macro asset in the third quarter of 2026, outperforming the S&P 500 by 5,866 basis points through the prior Friday. Lee added that the ETH/BTC ratio has reached its highest level since January 30, describing it as a new uptrend.