BitMine Buys 28,086 More Ether, Lifting Holdings to 5.93 Million ETH
Summary
- BitMine said it bought an additional 28,086 ETH over the past week, lifting its total holdings to 5,929,198 ETH (4.9% of total supply).
- The company said its crypto and strategic investment assets totaled $15.7 billion, with its ETH holdings alone valued at about $14.8 billion.
- It added that 5,067,309 ETH, or 85% of its holdings, is currently staked, generating an annualized yield of 2.61%, with yearly staking income projected at about $330 million.
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BitMine, the world’s largest corporate holder of Ether, bought another 28,086 ETH over the past week, lifting its total holdings to 5,929,198 ETH. That represents 4.9% of Ether’s total circulating supply of 122 million tokens.
According to a PR Newswire release on Sept. 8, BitMine’s crypto, cash, marketable securities and strategic investment assets totaled $15.7 billion. Those assets include 5.93 million ETH, 211 Bitcoin, $593 million in cash and marketable securities, a $180 million stake in Beast Industries and a $91 million stake in Aptco Holdings.
At an Ether price of $2,495, BitMine’s ETH holdings are worth about $14.8 billion. The company said it has reached 97% of its goal of acquiring 5% of total ETH supply and has purchased Ether every week since launching its Ethereum treasury strategy on June 30, 2025.
BitMine has staked 5,067,309 ETH, equal to 85% of its holdings. At $2,495 per token, those staked holdings are worth about $12.6 billion. As of Sept. 7, the annualized yield was 2.61%, implying roughly $330 million in yearly staking income. If all of its ETH were staked, annual rewards would total about $386 million, the company said.
Chairman Tom Lee said four of the 21 best-performing Russell 1000 stocks since June 30 have been crypto-related names. He said that reflects Ether’s position as the best-performing macro asset so far in the third quarter.
BitMine common stock has gained 99% this quarter, making it the fourth-best performer in the Russell 1000, according to Lee. Fund managers benchmarked to the Russell 1000 should review whether they have sufficient exposure after accounting for the contribution from crypto-related stocks, he added.
With the final month of the third quarter underway, Ether is the best-performing macro asset on a quarterly basis, Lee said. As of last Friday, it had outperformed the S&P 500 by 5,430 basis points. Since June 30, the top three performing assets have been ETH, BTC and SOL, he added.
Lee said a mid-September vote on the Clarity Act, renewed crypto buying by Korean investors, a rotation of capital out of AI stocks and the possibility that the market has passed its four-year cycle low could serve as positive catalysts for digital assets through the end of 2026. He added that institutional participation in crypto buying would increase, citing tailwinds from tokenization and agentic AI.
Lee also reiterated his bullish view on the ETH/BTC ratio. He said the ratio has historically risen during crypto bull markets when Ethereum’s utility increased relative to Bitcoin’s. In this cycle, Wall Street’s blockchain-based tokenization push and the use of blockchain in agentic AI will drive further gains in the ETH/BTC ratio, he said.
BitMine has also emerged as one of the most actively traded stocks in the US market. Fundstrat data showed the stock recorded a five-day average daily trading value of $1.1 billion, ranking 81st among 5,704 US-listed shares.
BitMine is currently the world’s largest Ethereum treasury company. It also remains the second-largest company globally pursuing a digital-asset strategic reserve strategy, behind Strategy.
