Catenaa, Monday, September 14, 2026- Bitmine Immersion Technologies added 28,086 ETH during the past week, lifting its Ethereum treasury to 5,929,198 tokens and moving within reach of its target to hold 5% of the cryptocurrency’s supply.
The holdings were worth about $14.8 billion using an ETH price of $2,495, according to figures released by the company Tuesday.
Bitmine said its treasury now represents about 4.9% of Ethereum’s estimated 122 million-token circulating supply.
The latest acquisition advances a strategy Chairman Tom Lee has promoted throughout 2026 as Bitmine builds the largest publicly disclosed corporate Ethereum treasury.
The company previously reported holdings of about 5.77 million ETH, representing roughly 4.8% of Ethereum supply.
Crossing the 5% threshold would therefore mark the next milestone in Bitmine’s rapid accumulation campaign.
A large portion of the treasury is already generating staking returns.
Bitmine said 5,067,309 ETH, valued at about $12.6 billion, is currently staked through its MAVAN platform and outside staking partners.
That represents roughly 85% of the company’s total ETH holdings.
Based on a seven-day annualized staking yield of 2.61%, Bitmine estimates the staked assets could generate about $330 million in annual revenue.
The staking income distinguishes Ethereum treasury strategies from corporate Bitcoin accumulation models.
Ethereum uses a proof-of-stake system in which holders can commit ETH to network validation and receive rewards.
Companies holding large ETH positions can therefore seek recurring returns from their treasury assets while maintaining exposure to the underlying cryptocurrency.
Bitmine has increasingly placed staking at the center of its treasury model.
Its MAVAN infrastructure was developed to manage and deploy the company’s growing ETH balance while capturing validator rewards.
The latest numbers show that most of Bitmine’s Ethereum is now actively staked rather than held idle.
Beyond Ethereum, the company reported holding 211 bitcoin.
It also owns a $180 million investment in Beast Industries and a $91 million stake in Eightco Holdings.
Cash and marketable securities totaled $593 million.
Combined crypto holdings, cash and other investments reached about $15.7 billion as of September 7.
Ethereum remains overwhelmingly the largest component of those assets.
At $14.8 billion, Bitmine’s ETH alone accounts for most of the company’s reported treasury value.
Lee reiterated the company’s confidence in Ethereum after the cryptocurrency outperformed traditional equity markets during the third quarter.
According to figures cited by Bitmine, ETH outperformed the S&P 500 by 5,430 basis points from June 30 through September 4.
Lee also identified ether, bitcoin and solana as the three strongest-performing major assets over that period.
Bitmine believes that relative performance could encourage institutional investors to increase cryptocurrency allocations.
The company’s own purchases represent one of the most aggressive examples of institutional Ethereum accumulation.
Bitmine has expanded from a relatively small crypto-related company into a major holder of ETH through repeated purchases and capital raises.
Its strategy resembles the corporate Bitcoin treasury model pioneered by Strategy but adds Ethereum staking as another potential source of returns.
The approach also creates substantial exposure to ETH market movements.
At the scale of Bitmine’s holdings, relatively small changes in Ethereum’s price can produce large changes in the dollar value of the company’s treasury.
Ether traded at about $2,471.92 on Tuesday, down about 1.4%, according to The Block.
That price was slightly below the $2,495 valuation Bitmine used when calculating the value of its holdings.
Bitmine shares closed Friday at $24.97, down 5.6%, according to market data cited by The Block.
The company’s stock has increasingly become a publicly traded proxy for investors seeking exposure to a large corporate ETH treasury.
Its staking strategy adds another variable because revenue depends partly on validator yields, Ethereum network conditions and the amount of ETH actively deployed.
The company’s projected $330 million annual staking revenue is based on current yields and could change as Ethereum staking conditions evolve.
Still, placing more than 5 million ETH into staking gives Bitmine a recurring income stream that grows alongside its treasury.
The latest purchase leaves the company close to its long-stated 5% target.
At Ethereum’s current reported supply of 122 million tokens, 5% would equal about 6.1 million ETH.
Bitmine therefore remains roughly 171,000 ETH short of that level based on its latest reported holdings.
That gap is much smaller than earlier in the year.
Continued purchases at Bitmine’s recent pace could bring the company across the threshold, though the precise target can move as Ethereum’s circulating supply changes.
Reaching 5% would give a single publicly traded company control of roughly one in every 20 ETH in existence.
It would also deepen Bitmine’s influence within the growing corporate digital-asset treasury sector as companies increasingly compete to accumulate large positions in bitcoin, ether and solana.
