Bitmine Buys 12,532 More Ether, Lifting Holdings Above 6.02 Million ETH

Bitmine, the world’s largest corporate holder of Ether, bought another 12,532 ETH over the past week, increasing its total holdings to 6,028,946 ETH. That amounts to 4.9% of Ether’s circulating supply of 122.1 million tokens.

Bitmine’s crypto assets, cash, marketable securities and strategic investments totaled $16.2 billion as of Oct. 12, according to a PR Newswire release. Those holdings include 6.03 million ETH, 214 Bitcoin, $612 million in cash and marketable securities, a $180 million stake in Beast Industries, and an $85 million stake in Ateco Holdings.

Based on an Ether price of $2,544, Bitmine’s ETH holdings are worth about $15.3 billion. The company said it has reached 99% of its goal of accumulating 5% of all ETH and has bought Ether every week since launching its Ethereum treasury strategy on June 30 last year.

Bitmine has staked 5,067,309 ETH, worth about $12.9 billion at that price. That represents 84% of its total holdings. The seven-day annualized yield is 2.61%, and annual income from the current staked holdings is projected at about $336 million. If all of its Ether were staked, annual rewards would be about $400 million, the company said.

Chairman Tom Lee said Bitmine is positioned to outperform the market in the crypto bull run he expects ahead. He added that the company has strengthened its competitiveness over the past year despite the crypto winter.

Most of the more than 6 million ETH on Bitmine’s balance sheet was accumulated in the middle of the crypto bear market, Lee said. With the company now nearing its target of securing 5% of all ETH, he said Bitmine is in an attractive position ahead of the next crypto bull run.

In the first nine months of 2026, Ether fell 10% while Bitmine shares declined 3%, giving the stock an outperformance of 731 basis points, according to Lee. He said that performance reflects the company’s efforts to optimize shareholder returns.

Ether outperformed the S&P 500 by 6,832 basis points in the third quarter, Lee said, calling that notable given macro headwinds including a hawkish Federal Reserve, surging oil prices, rising global bond yields and tighter financial conditions.

Lee also said the current crypto bull market could become the largest on record. He cited tokenization, wealth transfer, supply absorption by digital-asset treasury companies and crypto’s role as a supporting industry for AI as the main drivers.

Bitmine is currently the world’s largest Ethereum treasury company and remains the second-largest digital-asset treasury company globally after Strategy.