Bitmine Increases Ethereum Reserve to 6.02 Million Tokens

Bitmine Immersion Technologies has increased its Ethereum reserves to 6,016,414 tokens by adding 15,112 ETH over the past week. The cost of the latest purchase was approximately $41 million. Thus, the company has reached 4.9% of the total supply of the second-largest cryptocurrency by market capitalization, which amounts to 122.1 million tokens, and is approaching its goal of 5%.

The total value of Ethereum held by Bitmine is estimated at approximately $16.4 billion at a rate of $2,726 per token. According to company chairman Tom Lee, Bitmine has been purchasing ETH weekly since the launch of the ETH Treasury strategy on June 30, 2025. The latest purchase followed the acquisition of 17,362 ETH, which allowed the company to exceed 6 million tokens for the first time at the end of September.

About 5,067,309 ETH (84% of the company's total Ethereum assets) are staked through the MAVAN (Made in America Validator Network) platform and partners. The projected annual income from staking is $363 million with a yield of 2.63%, and with full staking of the entire ETH volume, it could reach $431 million. For the three months ending May 31, the company earned $45.7 million from staking and validation, which accounted for 98% of the quarterly revenue of $46.5 million.

As of October 4, 2026, Bitmine also held 214 Bitcoins, $643 million in cash and liquid securities, a $180 million stake in Beast Industries, and a $117 million position in Eightco Holdings. The total value of cryptocurrencies, cash, securities, and other investments amounted to $17.4 billion. The company is the largest holder of Ethereum among corporations and the second-largest corporate crypto reserve after Strategy.

In the first nine months of 2026, Bitmine repurchased 21 million of its BMNR shares. During this period, BMNR shares fell by 3%, while ETH dropped by 10%, which, according to Lee, represents an outperformance of 731 basis points. The average daily trading volume of the company's shares for the five trading days up to October 2 was $827 million, placing it 125th among 5,704 American public companies. Ethereum was trading around $2,711 on Monday, up 0.37% for the day. Over the past month, the cryptocurrency has increased by more than 10%, and over three months, by more than 50%.