Bitmine Raises Ether Holdings to 6.02 Million

Bitmine Immersion Technologies said it bought 15,112 ether during the week through October 4, lifting its holdings to 6,016,414 ETH and bringing the company to about 4.9% of the stated 122.1 million ETH supply. The balance leaves it near, but short of, its stated goal of holding 5% of the supply. The company valued its ether at about $16.4 billion, using a reference price of $2,726 per token. Bitmine said its combined holdings of crypto, cash, marketable securities and other investments were worth $17.4 billion as of October 4. The figures are based on company disclosures and valuations, rather than independent measurements. Bitmine reported that 5,067,309 ETH, about 84% of its ether holdings, was staked through its MAVAN platform and partners. The company projected annualized staking revenue of roughly $363 million under current assumptions. That is a projection, not a reported amount of revenue already earned. Bitmine also said the same yield assumptions would produce about $431 million annually if it staked its entire ETH balance. Chairman Tom Lee said Bitmine had bought ether every week since starting its treasury strategy on June 30, 2025.