Bitmine Surpasses 6 Million Ether After Weekly Purchase
The company held 6,001,302 ETH as of Sept. 27 after acquiring 17,362 ETH during the prior week.
Bitmine Immersion Technologies held 6,001,302 Ether (ETH) as of 3 p.m. ET (19:00 UTC) Sept. 27, after adding 17,362 ETH during the preceding week.
The company held 6,001,302 ETH at 3 p.m. ET (19:00 UTC) on Sept. 27, valued at $2,698 per token. The position represented 4.9% of the 122.1 million ETH supply cited by Bitmine.
Bitmine had 5,067,309 ETH staked, equal to 84% of its holdings. The company projected annualized staking revenue of $358 million and potential annualized rewards of $424 million if its full ETH position were staked through its MAVAN platform and partners, based on a 2.62% seven-day yield.
Its crypto, cash, marketable securities and other investments totaled $17.2 billion. The figure included 213 Bitcoin (BTC), $672 million in cash and marketable securities, a $180 million stake in Beast Industries and a $115 million stake in Eightco Holdings.
Bitmine Chairman Thomas “Tom” Lee said the company accumulated more than six million ETH in under 15 months. Its “Alchemy of 5%” strategy targets ownership of 5% of Ethereum’s total supply, and Bitmine said it has bought ETH every week since launching the strategy on June 30, 2025.
