Crypto: BitMine now holds more than 6 million ETH

BitMine continues to accumulate Ethereum. The company has just purchased an additional 15,112 ETH for about 41 million dollars. Its reserve now reaches 6,016,414 ETH, valued around 16.4 billion dollars. According to its own calculation, the company controls 4.9% of the Ethereum supply and is now at 99% of its 5% target.

BitMine adds another 41 million $ to its crypto reserve

The growth continues week after week. At the end of September, BitMine had already crossed 6 million ETH after purchasing an additional 17,362 tokens. One week later, 15,112 ETH were added to the stock. At the reference price of 2,726 dollars used by the company, the new acquisition represents about 41 million dollars. BitMine now holds exactly 6,016,414 ETH.

The company has not stopped its weekly purchases since the launch of its Ethereum treasury strategy on June 30, 2025. In fifteen months, it has transformed itself into the leading corporate treasury focused on Ethereum. It also remains the second largest listed crypto treasury, behind Strategy and its huge Bitcoin reserve.

BitMine calls its goal “Alchemy of 5%”. The principle: to hold 5% of the total Ethereum supply. It now estimates to have completed 99% of the way.

More than 5 million ETH are already working in staking

BitMine does not simply keep its tokens in wallets. Of its about 6.02 million ETH, 5,067,309 are staked, about 84% of the reserve. The company notably uses MAVAN, its staking infrastructure designed for institutional assets.

The previous week, Cointribune noted that BitMine generated about 358 million dollars in annualized revenue thanks to staking. With the current reserve, BitMine now projects around 363 million dollars in annualized revenue.

The calculation remains variable. Staking rewards depend notably on the Ethereum network’s yield and the amount effectively staked.

BitMine’s total treasury also exceeds its ETH-only positions. The company announces about 17.4 billion dollars in assets, including its cryptos, cash, and several investments. It notably holds 214 BTC and about 643 million dollars in cash and marketable securities.

Two holdings complete the portfolio: about 180 million dollars in Beast Industries and 117 million in Eightco Holdings. ETH remains by far dominant.

The 5% of Ethereum is now very close

The accumulation pace has considerably slowed compared to some purchases made earlier this year. In May, BitMine had purchased 71,672 ETH in a single week. At that time, its reserve had just exceeded 5.2 million ETH and the 5% target still seemed distant.

Today, the gap becomes much smaller. With the Ethereum supply estimated by BitMine at around 122.1 million ETH, its 6,016,414 tokens represent about 4.9%. The exact percentage may slightly vary with the network supply evolution.

Tom Lee continues on his part to defend his bet on Ethereum. The president of BitMine believes a new crypto bull cycle is underway and highlights ETH’s recent performance against several traditional assets.

The market does not fully agree with him for the whole year. Over the first nine months of 2026, the BMNR stock dropped about 3%, while ETH lost nearly 10%. However, BitMine has not slowed its purchases. 15,112 additional ETH this week. More than 6 million in total. To reach its stated goal of 5% of the Ethereum supply, not much remains to buy now.