Bitmine's ETH Treasury Hits 5.96 Million Tokens, Equal to 4.9% of Supply

Bitmine Immersion Technologies (NYSE: BMNR) said its Ethereum treasury rose to 5,956,378 ETH as of Sept. 13, representing about 4.9% of the network's 122 million ETH outstanding. The company disclosed the figures in a Form 8-K filed with the U.S. Securities and Exchange Commission on Sept. 14. The blockchain infrastructure firm said it added 27,180 ETH over the prior week, pushing its combined holdings across crypto, cash and marketable securities to $15.8 billion. Valuation and balance-sheet details In the release, Chairman Thomas "Tom" Lee valued the ETH position at $2,513 per token using Coinbase pricing. Bitmine also reported holdings of 212 bitcoin, a $180 million stake in Beast Industries, a $98 million stake in Eightco Holdings (NASDAQ: ORBS), and $549 million in cash and marketable securities. Bitmine said the latest total puts it 98% of the way to its "Alchemy of 5%" objective, a stated goal of accumulating 5% of all ETH in circulation. The company described itself as the world's largest Ethereum treasury and said it ranks second only to Strategy among corporate crypto holders. Staking, yields, and projections Bitmine said roughly 5,067,309 ETH, or $12.7 billion, is staked through MAVAN, its "Made in America VAlidator Network," accounting for about 85% of the treasury. In the filing, Lee linked the accumulation strategy to Ethereum's role in Wall Street tokenization and agentic AI, and projected annualized staking revenue of about $334 million, increasing to $392 million once the full treasury is staked. The company said its staking operation produced a 7-day annualized yield of 2.62%. Bitmine noted these figures are projections and not realized results. Bitmine said it has purchased ETH every week since launching its treasury strategy on June 30, 2025, calling the streak unmatched among public companies and crediting it with making Bitmine the largest corporate Ethereum holder. What investors are watching The update follows the company's prior disclosure that put its Ethereum holdings at 5.8 million ETH, and comes after Bitmine said earlier this year it surpassed $10 billion in holdings and began targeting 4% of total supply. Lee framed the milestone as part of a broader institutional shift toward digital assets, citing upcoming policy votes and renewed buying from Korean investors as potential drivers into the final months of 2026. With Bitmine now at 4.9% of supply, the next filing will indicate whether it can close the remaining gap to its 5% target and sustain the current pace of weekly accumulation.