Bitmine Immersion Technologies announced that it has reached 6 million ETH on its balance sheet. Over the past reporting week, the organization acquired an additional 17,362 ETH, bringing the total reserves to 6,001,302 coins. According to the company, the average purchase price is $2,698 per ETH. As of September 27, Bitmine's cryptocurrency reserves also included 213 BTC. Additionally, the portfolio contained stakes in Beast Industries and Eightco Holdings valued at $180 million and $115 million respectively, while the volume of cash and securities was estimated at $672 million. The total value of the company's assets and investments, including investments in high-risk technology projects, reached $17.2 billion. The current volume of ETH corresponds to approximately 4.9% of the total supply of 122.1 million coins.
Bitmine Chairman Tom Lee noted that the company has been increasing its cryptocurrency reserve weekly since its inception on June 30, 2025. The organization's strategic goal is to bring its share of Ethereum to 5% of the total supply. Lee also stated that he expects increased investments from major market participants in the last months of the year. In his assessment, Ethereum is showing an outperformance relative to the S&P 500 index by 6,728 basis points. These assessments reflect the position of the company's leadership and do not guarantee further changes in the asset's value. Previously, Lee linked the prospects of the crypto market with the development of artificial intelligence and the transition of financial infrastructure to blockchain, which can reduce transaction costs.
A significant portion of Bitmine's reserves is already involved in staking. Through its own platform MAVAN, which stands for Made in America Validator Network, the company has placed 5,067,309 ETH. As of September 27, the value of these assets was estimated at approximately $13.7 billion. According to Bitmine, the weekly yield of its staking operations corresponded to 2.62% per annum, with the estimated annual income reaching $358 million. These figures are company estimates and may change depending on staking conditions, the value of ETH, and the actual yield of validators. Thus, Bitmine's strategy combines the accumulation of cryptocurrency with the use of a significant portion of reserves to earn rewards in the Ethereum network.
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