Bitmine Immersion Technologies now holds 6,016,414 ETH after purchasing another 15,112 ETH over the past week, a buy worth roughly $41 million at the company’s reference price of $2,726 per token. The treasury was valued at approximately $16.4 billion, representing 4.9% of Ethereum’s 122.1 million token supply and leaving Bitmine 99% of the way to its “Alchemy of 5%” target.
The company has bought ETH every week since launching its Ethereum treasury strategy on June 30, 2025, according to Chairman Tom Lee. He said a crypto bull market is “underway,” and highlighted that ETH outperformed the S&P 500 by 6,832 basis points during the third quarter despite macro headwinds, including a hawkish Federal Reserve, higher oil prices, rising global bond yields, and tighter financial conditions. Lee is scheduled to deliver a keynote at Token2049 in Singapore on Oct. 7.
Bitmine has staked 5,067,309 ETH, about 84% of its treasury and worth roughly $13.8 billion, through its MAVAN platform and staking partners. The staked balance produced a seven-day annualized yield of 2.63%, implying projected annual staking revenue of $363 million. If Bitmine were to stake all of its ETH, projected annual rewards would rise to $431 million at the same yield. Staking and validation generated $45.7 million in revenue for the quarter ended May 31, accounting for 98% of total quarterly revenue of $46.5 million.
Beyond Ethereum, Bitmine reported 214 Bitcoin, $643 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $117 million position in Eightco Holdings as of Oct. 4. Total holdings across crypto, cash, securities, and other investments reached $17.4 billion. Ether traded near $2,711 on Monday, up 0.37% on the day, with gains of more than 10% over the past month and 50% over three months.
