BitMine Buys 53,501 More Ether, Lifting Holdings to 5.9 Million

BitMine, the world’s largest corporate holder of Ether, bought another 53,501 ETH over the past week, raising its total holdings to 5,901,112 ETH. That equals 4.9% of Ether’s circulating supply of 120.7 million tokens.

A PR Newswire release dated Aug. 31 showed BitMine’s digital assets, cash, marketable securities and strategic investments totaled $15.6 billion. The holdings include 5.9 million ETH, 211 Bitcoin, $541 million in cash and marketable securities, a $180 million stake in Beast Industries and an $81 million stake in Aethir Holdings.

At an Ether price of $2,511, BitMine’s ETH holdings are worth about $14.8 billion. The company said it has reached 98% of its goal of accumulating 5% of total ETH supply. It has also purchased ETH for 65 consecutive weeks since launching its Ethereum treasury strategy on June 30, 2025.

BitMine has 5,067,309 ETH staked, worth about $12.7 billion at the same $2,511 price. That accounts for 86% of its total holdings. Its annualized seven-day yield stands at 2.63%, and annual staking income is projected at about $335 million. If all of its ETH were staked, projected annual rewards would be about $390 million.

Tom Lee, BitMine’s chairman, said Ether has been the best-performing macro asset so far as the final month of the third quarter begins. As of last Friday, it had outperformed the S&P 500 by 5,430 basis points.

The top three performing assets since June 30 have been ETH, BTC and SOL, he said. With crypto sharply outperforming other macro assets in the third quarter, the environment is becoming more favorable for institutions to increase their digital-asset holdings.

Lee said several positive catalysts are lining up ahead of the final months of 2026. He cited a planned mid-September vote on the Clarity Act, a resumption of crypto buying by South Korean investors, a rotation of money out of AI stocks and the possibility that the market has already passed the low point of its four-year cycle.

He added that institutional participation in crypto purchases could increase significantly by the end of 2026, supported by tailwinds from tokenization and agentic artificial intelligence.

Lee also reiterated his view that the ETH/BTC ratio will continue to rise. He said the ratio has historically increased during crypto bull markets when Ethereum’s utility expands more quickly than Bitcoin’s.

In past cycles, that trend was driven by initial coin offerings in 2017 and 2018, NFTs in 2020 and 2021, and stablecoins in 2025. In the current cycle, Lee said Wall Street’s blockchain-based tokenization efforts and the use of blockchain in agentic AI will drive further gains in the ETH/BTC ratio.

BitMine is currently the world’s largest Ethereum treasury company and remains the second-largest crypto treasury company globally after Strategy.