BitMine Reaches 5.93 Million ETH and $15.7 Billion in Holdings, Closing In on Its 5% Supply Target

Bitmine Immersion Technologies, Inc. (NYSE: BMNR), a blockchain infrastructure company and the world’s largest corporate Ethereum treasury, announced on September 8, 2026 that its crypto, cash, marketable securities, and early-stage equity holdings total $15.7 billion. As of September 7, the company held 5,929,198 ETH valued at $2,495 per token, representing 4.9% of the 122.0 million total ETH supply. That puts BitMine 97% of the way toward its stated “Alchemy of 5%” goal in just 15 months. The position also includes 211 Bitcoin, $593 million in cash and marketable securities, and stakes in Beast Industries ($180 million) and Eightco Holdings ($91 million).

Weekly Accumulation Has Been Uninterrupted Since Inception

The defining feature of BitMine’s strategy is consistency rather than opportunism. Chairman Thomas “Tom” Lee stated that the company acquired 28,086 ETH over the past week alone, and has purchased ETH every single week since launching its ETH Treasury Strategy on June 30, 2025. That cadence has taken the company from zero to nearly 6 million tokens in 15 months. BitMine now ranks as the largest Ethereum treasury in the world and the second-largest corporate crypto treasury overall, behind only Strategy Inc., which holds a reported 840,447 Bitcoin worth approximately $66 billion. The company was added to the Russell 1000 large-cap index on June 26, 2026, and its Series A Preferred Stock trades separately on the NYSE under the symbol BMNP.

Staking Turns the Treasury Into a Revenue-Generating Asset

Unlike a Bitcoin treasury, which sits idle, BitMine’s ETH position generates yield. As of September 7, the company had 5,067,309 ETH staked, representing $12.6 billion and roughly 85% of its total holdings. Based on a 7-day annualized yield of 2.61%, BitMine projects annualized staking revenues of approximately $330 million at current staking levels, rising to a projected $386 million once its full position is staked through MAVAN and its partners. MAVAN, short for Made in America VAlidator Network, began as internal infrastructure supporting BitMine’s own treasury before expanding to serve institutional investors, custodians, and ecosystem partners. That distinction matters commercially: the staking layer converts a passive balance sheet asset into recurring operating revenue, and the platform itself is now a product BitMine can sell to third parties.

Strong Market Performance, With Concentration Risk to Match

BitMine’s common stock gained 99% quarter to date, which the company notes is the fourth-best performance in the Russell 1000 against a 3% benchmark return. Lee pointed out that four of the top 21 performing Russell 1000 stocks since June 30 are crypto-related, and that ETH has outperformed the S&P 500 by 5,430 basis points in Q3 to date. The stock is also heavily traded, averaging $1.10 billion in daily dollar volume over five days as of September 4, ranking 81st among 5,704 U.S.-listed equities. Investors should weigh that momentum against the structural reality: BitMine’s valuation is almost entirely a leveraged expression of the ETH price, and management’s forward projections, including Lee’s expectations around the mid-September CLARITY Act vote and advisor Tom DeMark’s technical call for a sharp ETH move higher, are forecasts rather than contracted revenue. A sustained ETH drawdown would compress both the treasury value and the staking revenue built on top of it.

Strategic Investment Summary

• Holdings Milestone: BitMine (NYSE: BMNR) reported total crypto, cash, and equity holdings of $15.7 billion as of September 7, 2026, including 5,929,198 ETH at $2,495 per token, 211 Bitcoin, and $593 million in cash and marketable securities.
• Approaching the 5% Target: BitMine’s ETH position represents 4.9% of the 122.0 million total ETH supply, placing it 97% of the way toward its “Alchemy of 5%” goal within 15 months of launching the strategy.
• Uninterrupted Accumulation: The company acquired 28,086 ETH in the past week and has purchased ETH every week since the treasury strategy began on June 30, 2025, ranking as the largest ETH treasury globally and second-largest crypto treasury behind Strategy Inc.
• Staking Revenue Engine: 5,067,309 ETH ($12.6 billion, roughly 85% of holdings) is staked, generating projected annualized staking revenue of approximately $330 million, rising to a projected $386 million at full staking through the MAVAN platform.
• Market Position: BMNR common stock gained 99% quarter to date, fourth-best in the Russell 1000, and averaged $1.10 billion in daily dollar volume, ranking 81st among 5,704 U.S.-listed stocks.
• Concentration Risk: BitMine’s valuation functions as a leveraged expression of the ETH price; management’s projections on staking yield, regulatory catalysts, and price direction are forecasts rather than contracted revenue, and a sustained ETH decline would compress both treasury value and staking income.

Find out more about the latest corporate developments and financial reports at the BitMine investor portal.