BitMine Buys 27,562 ETH, Taking Its Treasury Above $17 Billion

BitMine Immersion Technologies (NYSE: BMNR) said Monday it purchased 27,562 ether over the past week, lifting total holdings to 5,983,940 ETH and pushing combined crypto and cash reserves beyond $17 billion, according to a company release. The update reinforces BitMine's position as the largest publicly traded holder of ether. As of Sept. 20, the Norwalk, Connecticut-based company reported 5,983,940 ETH valued at $2,688 per token, along with 212 bitcoin, $714 million in cash and marketable securities, a $180 million stake in Beast Industries and a $105 million stake in Eightco Holdings (NASDAQ: ORBS). BitMine put total crypto, cash and equity holdings at $17.1 billion. The company said its ETH balance represents 4.9% of the estimated 122.1 million-token supply, putting it within reach of the 5% threshold it has highlighted as a milestone, referred to in its materials as the "alchemy of 5%". Chair Tom Lee said BitMine has purchased ETH every week since launching its ETH Treasury Strategy on June 30, 2025. BitMine also emphasized the income potential of its holdings. It said 5,067,309 ETH, worth $13.6 billion and representing about 85% of its ETH position, is staked and generated a seven-day yield of 2.62% on an annualized basis. Lee said BitMine has staked more ETH than any other entity globally and projected annualized staking revenue of about $357 million, rising to roughly $421 million once the full balance is deployed through its MAVAN staking platform. The disclosure follows last week's update that showed BitMine's ether holdings surpassing 5.96 million ETH. The company funds purchases through its bitcoin mining operations and capital-raising proceeds, and has accelerated buying as institutional interest in ether has increased. BitMine describes its investments in Beast Industries and Eightco as "moonshots" alongside its staking and cash businesses.