BitMine Ethereum Holdings Hit 5.93 Million ETH, Nearing 5% Supply Goal

Highlights:

• BitMine now holds 5.93 million ETH and is very close to owning 5% of Ethereum’s supply.
• The company bought 28,086 more ETH last week and has continued buying Ethereum every week since 2025.
• BitMine has staked more than 5 million ETH, which now earns the company regular rewards.

Bitmine Immersion Technologies has increased its Ethereum holdings to 5.93 million ETH, bringing the company close to its long-term target of owning 5% of the cryptocurrency’s total supply. The company said on September 8 that its crypto, cash, marketable securities and strategic investments were worth about $15.7 billion as of September 7 at 2:00 p.m. ET. Its treasury included 5,929,198 ETH, 211 Bitcoin, $593 million in cash and marketable securities, a $180 million stake in Beast Industries and a $91 million stake in Eightco Holdings.

Based on Ethereum’s total supply of about 122 million ETH, Bitmine now controls roughly 4.9%. The company said it has completed about 97% of what it calls its “Alchemy of 5%” strategy.

BitMine ETH Holdings Reach 5.93M, Representing 4.9% of Total Supply

BitMine, the largest Ethereum treasury company, said it held 5,929,198 ETH as of Sep. 7, worth about $14.79 billion at $2,495 per ETH and representing roughly 4.9% of Ethereum’s 122 million total supply. The… pic.twitter.com/2bwJXrhope

— Wu Blockchain (@WuBlockchain) September 8, 2026

Bitmine Adds Another 28,086 ETH in One Week

Bitmine continued buying Ethereum during the latest week, adding another 28,086 ETH to its treasury. Chairman Thomas “Tom” Lee said the company has purchased ETH every week since launching its Ethereum treasury strategy on June 30, 2025.

“Bitmine has bought ETH each and every week since the inception of the ETH Treasury Strategy on June 30, 2025,” Lee said. That steady buying has made Bitmine the world’s largest corporate Ethereum treasury, according to the company. It also ranks as the second-largest crypto treasury globally behind Strategy, which mainly holds Bitcoin.

Lee said Ethereum has been the best-performing macro asset so far in the third quarter of 2026. He also pointed to the strong performance of crypto-related stocks in the Russell 1000. Bitmine shares have gained 99% quarter to date, compared with a 3% gain for the benchmark, according to the company.

Bitmine believes the strong quarter for Ethereum, Bitcoin and Solana could encourage more institutions to increase their crypto exposure before the end of 2026. Lee also cited possible U.S. regulatory progress, tokenization and renewed crypto buying from Korean investors as potential drivers.

Market technician Tom DeMark also expects Ethereum’s recent trend to continue. He said ETH moved sideways through August without breaking lower, while one of his 12-day indicators expired. In his view, last week’s sharp one-day rally may have been an early sign of another upward move.

More Than 5 Million ETH Is Already Staked

Bitmine is not only holding Ethereum. A large portion of its treasury is already being used for staking, which allows ETH holders to earn rewards for helping secure the Ethereum network. As of September 7, Bitmine had 5,067,309 ETH staked, worth about $12.6 billion at the company’s reference price of $2,495 per ETH. That represents roughly 85% of its total Ethereum holdings.

Bitmine said its staking operations generated a seven-day annualized yield of 2.61%. Based on current levels, the company projects annualized staking revenue of about $330 million. Lee said that figure could rise as more of the company’s ETH is staked through MAVAN and other staking partners.

MAVAN, short for Made in America Validator Network, launched earlier in 2026. Bitmine originally developed the platform to support its own Ethereum treasury but has since expanded it to serve institutional investors, custodians and other ecosystem partners.

Bitmine Moves Closer to Its 5% Ethereum Target

Bitmine’s latest purchase leaves the company only slightly below its 5% Ethereum supply target. At the current reported supply of 122 million ETH, 5% would equal about 6.1 million ETH. The company’s strategy remains centered on long-term Ethereum accumulation, staking income and broader institutional adoption. Its latest weekly purchase shows that Bitmine is still actively increasing its ETH position as it moves closer to the target.

Ethereum was trading at about $2,460 at the time of writing, down roughly 1.03% over the past 24 hours, according to CoinMarketCap. Despite BitMine’s continued accumulation, ETH remains about 50.3% below its all-time high of $4,953.73, which Ethereum reached on August 25, 2025.