Bitmine Adds 12,532 ETH as Ethereum Holdings Reach $15.3 Billion

 

Bitmine Immersion Technologies has increased its Ethereum holdings to 6,028,946 ETH, bringing the company closer to its 5% supply accumulation target. According to its announcement, Bitmine purchased another 12,532 ETH during the week, expanding its position in the cryptocurrency market.

The company’s Ethereum holdings now represent approximately 4.9% of the reported 122.1 million ETH supply, valued at roughly $15.3 billion. Meanwhile, Bitmine reported combined cryptocurrency holdings, cash, marketable securities, and strategic investments totaling approximately $16.2 billion.

Its broader portfolio includes 214 Bitcoin, $612 million in cash and marketable securities, and investments in two separate businesses. These investments comprise $180 million in Beast Industries and $85 million in Eightco Holdings, which trades under ORBS.

Bitmine Chairman Tom Lee confirmed that the company has purchased Ethereum weekly since launching its treasury strategy in June 2025. Lee explained that much of the accumulation occurred during the cryptocurrency bear market, positioning Bitmine near its stated ownership target. The company remains the largest corporate Ethereum treasury globally, ranking behind Strategy among major corporate cryptocurrency holders.

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Bitmine Expands Ethereum Staking as Annual Rewards Reach $336 Million

Beyond its cryptocurrency purchases, Bitmine has expanded Ethereum staking through its Made in America Validator Network, commonly known as MAVAN. As of October 11, Bitmine had staked 5,067,309 ETH, representing approximately 84% of its total Ethereum holdings.

At the company’s reference price of $2,544 per ETH, these staked assets carried an estimated value of $12.9 billion. Management estimates that existing staking operations generate approximately $336 million annually, based on the company’s reported Ethereum staking yield.

Additionally, fully deploying its Ethereum holdings could increase annualized staking rewards to approximately $400 million, assuming a 2.61% yield. MAVAN also provides staking infrastructure for institutional investors, custodians, and ecosystem partners seeking access to Ethereum validation services.

Separately, Bitmine highlighted its perpetual preferred stock, BMNP, which increased approximately 24% from its $80 issuance price to $99.53. Lee identified tokenization, wealth transfers, and corporate cryptocurrency accumulation as potential drivers of future digital asset demand.

Bitmine’s latest acquisition places its Ethereum treasury within reach of the company’s stated 5% supply target. Its expanding staking operations also support recurring revenue generation alongside its broader cryptocurrency accumulation strategy.

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