Summary
- BitMine said it bought an additional 27,562 ETH over the past week, expanding its total holdings to 5,983,940 ETH (4.9% of circulating supply).
- BitMine said its 5.98 million ETH holdings are worth about $16.1 billion and that it has reached 98% of its goal of acquiring 5% of total ETH supply.
- It said 5,067,309 ETH are currently staked (85% of the total), with annual staking income projected at about $357 million based on an annualized yield of 2.62%.
Forecast Trend Report by Period
BitMine, the world’s largest corporate holder of Ether, bought 27,562 ETH over the past week, lifting its total holdings to 5,983,940 ETH. That amounts to 4.9% of Ether’s circulating supply of 122.1 million tokens.
PR Newswire reported on September 21 that BitMine’s digital assets, cash, marketable securities and strategic investments totaled $17.1 billion. Those assets include 5.98 million ETH, 212 Bitcoin, $714 million in cash and marketable securities, a $180 million stake in Beast Industries and a $105 million stake in Aethir Holdings.
At an Ether price of $2,688, BitMine’s ETH holdings are valued at about $16.1 billion. The company said it has reached 98% of its goal of acquiring 5% of total ETH supply and has bought Ether every week since launching its Ethereum treasury strategy on June 30 last year.
BitMine currently has 5,067,309 ETH staked, worth about $13.6 billion at $2,688 per token. That represents 85% of its total holdings. Based on a seven-day annualized yield of 2.62%, annual staking income is projected at about $357 million. The company said staking its entire ETH position would generate about $421 million in annual rewards.
BitMine Chairman Tom Lee said he sees a crypto bull market underway. He said it began in late June, driven by a rotation of capital from artificial intelligence into crypto, stronger crypto fundamentals centered on tokenization and AI, and the end of the four-year cycle.
With a little more than a week left until the end of the third quarter, Ether continues to extend its outperformance as a macro asset, Lee said. On a quarterly basis, ETH is outperforming the S&P 500 by 6,519 basis points and is outpacing other macro assets.
Lee said institutions entered 2026 with low crypto allocations, in part because AI stocks outperformed earlier in the year. He added that he expects institutions to increase crypto exposure sharply over the final three months of this year.
That could add meaningful upside to the rally since June 30, he added.
BitMine is currently the world’s largest Ethereum treasury company and remains the second-largest digital-asset treasury company globally after Strategy.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.