Bitmine Adds Another 27,562 ETH
Bitmine Immersion Technologies has continued expanding its Ethereum treasury, purchasing 27,562 ETH over the past week. Based on the company's latest announcement, the acquisition brought its total Ethereum holdings to 5,983,940 ETH, equivalent to approximately 4.9% of Ethereum's 122.1 million circulating supply.
The company said the latest purchase was part of its ongoing Ethereum Treasury Strategy, which began on June 30, 2025. Bitmine says it has purchased ETH every week since launching that strategy. At the ETH price cited in the company's announcement, its cryptocurrency, cash, marketable securities and other holdings totaled approximately $17.1 billion.
Bitmine's official company announcement provides the latest breakdown of its ETH treasury and other holdings.
Company Nears Its 5% Ethereum Target
Bitmine's latest accumulation puts it close to its stated goal of controlling 5% of the total ETH supply. With 5,983,940 ETH held as of Sept. 20, the company said it was 98% of the way toward its “Alchemy of 5%” objective.
The latest holdings are an increase from the 5.96 million ETH reported by Bitmine in its Sept. 14 update. At that point, the company said it already controlled 4.9% of the total ETH supply and had more than 5 million ETH staked.
Bitmine's accumulation strategy is therefore not based on a single purchase. The company has repeatedly added ETH since shifting toward a crypto treasury model, making the latest acquisition another step in its stated plan rather than an isolated transaction.
More Than 5 Million ETH Is Staked
Bitmine is also putting a substantial portion of its Ethereum holdings into staking. As of Sept. 20, 2026, the company reported 5,067,309 ETH staked, representing roughly 85% of its total ETH holdings. The company valued that staked position at approximately $13.6 billion, using an ETH price of $2,688.
Staking allows ETH holders to participate in Ethereum's proof-of-stake network and receive staking rewards. Bitmine said its staking operations and current yields imply approximately $357 million in annualized staking revenue. That figure is a projection based on the company's stated holdings and current yield assumptions, rather than guaranteed future revenue.
The company's institutional staking infrastructure, MAVAN, was originally developed to support Bitmine's own Ethereum treasury and has since expanded to serve institutional investors, custodians and ecosystem partners, according to the company.
Learn more about Ethereum staking through Ethereum.org
Tom Lee Says Institutions May Increase Crypto Exposure
Bitmine Chairman Thomas “Tom” Lee is also pointing to Ethereum's recent market performance as a potential catalyst for greater institutional attention.
In the company's Sept. 21 announcement, Lee argued that institutions have been underweight crypto during 2026, partly because artificial-intelligence-related stocks performed strongly earlier in the year. He said the relative performance of Ethereum could encourage fund managers to increase their exposure during the final three months of the year.
Lee specifically highlighted Ethereum's performance during the third quarter. Bitmine said ETH had outperformed the S&P 500 by 6,519 basis points quarter to date as of Sept. 21. Lee described the performance as a potential precursor to further strength in the fourth quarter, although that remains his view rather than an established market outcome.
Tokenization and AI Remain Part of Bitmine's Thesis
Lee's institutional argument extends beyond Ethereum's price performance. He pointed to tokenization and the increasing use of blockchain technology in artificial intelligence as longer-term factors that could support greater institutional involvement in crypto.
Tokenization refers to representing assets or financial instruments as digital tokens on blockchain networks. The concept has become an important area of development across the digital-asset industry as financial institutions explore blockchain-based infrastructure.
Bitmine's own strategy is increasingly centered on Ethereum exposure rather than simply holding ETH. Its latest announcement also lists investments in other assets, including a $180 million stake in Beast Industries, a $105 million stake in Eightco Holdings, 212 BTC, and $714 million in cash and marketable securities. Together with its ETH and other holdings, the company reported approximately $17.1 billion in total crypto, cash, marketable securities and “moonshots.”
Visit Bitmine's official website
What Bitmine's Latest Purchase Means for Its Strategy
The latest 27,562 ETH acquisition reinforces the scale of Bitmine's Ethereum treasury strategy. With almost 6 million ETH now held and more than 5 million already staked, the company is maintaining a significant long-term exposure to Ethereum while pursuing its 5% ownership target.
The company is also continuing to build around that treasury through staking infrastructure and other digital-asset investments. Its latest disclosure shows that Ethereum remains the dominant component of its crypto holdings.
For the broader market, the key developments to watch are Bitmine's pace of future ETH purchases, progress toward its 5% target and changes in its staked ETH position. Tom Lee's expectations for institutional participation are separate from those measurable company actions and represent his view on how institutions may respond to Ethereum's recent performance.
