BitMine Adds Nearly 10,000 ETH, Pushing Total Holdings Past 5.8 Million

BitMine purchased 9,926 ETH over the past week, bringing its total holdings to 5,815,164 ETH. That figure represents roughly 4.8% of Ethereum’s circulating supply of 120.7 million tokens. The company has now bought Ether every week for about 14 months since launching its Ethereum treasury strategy in mid-2025.

Total Asset Value Tops $11 Billion

According to a company disclosure, BitMine’s combined crypto, cash, marketable securities, and strategic investment assets totaled $11.4 billion. That includes 5.82 million ETH, 210 Bitcoin, $78 million in cash and marketable securities, a $180 million equity stake in Beast Industries, and a $73 million investment in Eightco Holdings. At current Ether prices near $1,893, the company’s ETH position alone is worth about $11 billion. BitMine said it has now reached 96% of its stated goal of acquiring 5% of all ETH in circulation.

Most Holdings Remain Staked

The company has staked 5,067,309 ETH, or 87% of its total position, worth roughly $9.6 billion. Based on a seven-day annualized yield of 2.61%, BitMine estimates its staking income at approximately $250 million per year. If the company staked its entire ETH holding, annual rewards would climb to an estimated $287 million.

Chairman Points to Shifting Market Dynamics

Company chairman Tom Lee highlighted the rise in the ETH/BTC price ratio, noting it had broken above a downtrend that had persisted for several years. He said this signals growing market recognition of use cases tied to tokenization and agentic AI. Lee pointed to previous cycles, including the ICO boom and the NFT wave, as past examples of Ethereum’s utility driving similar ratio increases, and said Wall Street’s tokenization efforts alongside AI-related blockchain applications could fuel the current trend.

Share Buybacks Continue Alongside ETH Purchases

Separately, BitMine repurchased 1.7 million common shares last week, bringing its total buybacks since early July to 20.8 million shares under its $4 billion repurchase program. Lee said the company’s stock remains undervalued and described the latest repurchase as the largest single buyback among crypto treasury companies to date.