- Bitmine bought 12,532 ETH over the past week, lifting its treasury to 6,028,946 tokens.
- The company sits about 76,000 ETH short of owning 5% of ether’s 122.1 million supply.
- Bitmine has staked 5,067,309 ETH, putting annualized staking revenue at $336 million.
Bitmine Immersion Technologies has acquired 12,532 ETH over the last week, swelling its treasury to 6,028,946 tokens. The company sits about 76,000 ETH short of owning 5% of the 122.1 million supply of ether, according to Cryptopolitan’s math.
Bitmine said Monday it owns 4.9% of ether’s supply. The company says it is 99% of the way to a target it calls the “Alchemy of 5%.”
Lee puts the remaining gap at about 100,000 ETH tokens
A 5% stake in 122.1 million ETH comes to 6,105,000 tokens. Bitmine’s 6,028,946 ETH is 76,054 below that line.
Chairman Tom Lee pegged the gap a little higher in his October 7 Chairman’s message. Bitmine needs “about 100,000 more ETH, and that’s about it,” Lee said in the video.
Lee has said purchases stop once Bitmine hits the target. The latest purchase was about $32 million at the price of $2,544 per ETH based on Coinbase’s Sunday pricing.
Bitmine bought $41 million worth of ETH the week before. It trimmed its weekly rate from over 100,000 ETH as it approached 5%, Cryptopolitan said in May.
“Bitmine has bought ETH each and every week since the inception of the ETH Treasury Strategy on June 30, 2025,” Lee said. In September, a 28,086 ETH buy took Bitmine to 5.93 million tokens, Cryptopolitan reported.
Staking earns $336 million a year on 84% of the treasury
Bitmine has staked 5,067,309 ETH, 84% of its holdings, valued at about $12.9 billion. The stake is run by its MAVAN validator network and staking partners.
Annualized staking revenue sits at $336 million on the ETH staked now, Lee said. He said that if fully staked, the treasury would bring in around $400 million a year at a 2.61% seven-day yield.
Bitmine disclosed in a statement that as of October 11, it had $16.2 billion in crypto, cash, and other assets. The total includes $612 million in cash and marketable securities and 214 bitcoin.
$180 million of that is Beast Industries, and $85 million is Eightco Holdings. Bitmine’s BMNP, a 9.5% perpetual preferred sold at $80 in June, last closed at $99.53.
Lee said BMNP is up 24% since issuance, versus Treasuries, which are down 8% in the same period. He puts its 9.56% yield 256 basis points below comparable bitcoin credit.
Lee sees potential for the biggest-ever crypto bull market. Tokenization, wealth transfer, treasury firms absorbing supply, and AI are the drivers, he said.
ETH was down 10% in the first nine months of 2026, and BMNR was down 3%, Lee said. He said ether topped the S&P 500 by 6,832 basis points over the third quarter.
Bitmine calls itself the largest ETH treasury and the second-largest crypto treasury overall. Strategy Inc. occupies the number one spot.
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FAQs
How much Ethereum does Bitmine hold now?
Bitmine holds 6,028,946 ETH, or 4.9% of ether's 122.1 million token supply.
When will Bitmine stop buying Ether?
Once it reaches 5% of supply, about 76,000 ETH away, Lee has said purchases stop.
How much does Bitmine earn from staking?
About $336 million a year on 5,067,309 staked ETH, rising toward $400 million if fully staked.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Randa Moses
Randa Moses is an editor and reporter at Cryptopolitan covering tech, AI, robotics, crypto, scams, and hacks. She has worked in the crypto space since 2017. She held roles at Forward Protocol, AmaZix, and Cryptosomniac. Randa holds a degree in Electrical and Electronics Engineering from the University of Bradford.
