Bitmine Adds $68 Million in Ethereum as Holdings Near 6 Million ETH
Bitmine Immersion Technologies bought 27,180 more ETH last week, lifting holdings to 5,956,378 ETH, worth about $14.89 billion and equal to roughly 4.9% of Ethereum’s supply. The company has now bought Ethereum every week since launching its treasury strategy on June 30, 2025. Chairman Tom Lee said ETH is the best-performing macro asset in Q3 and argued that strong crypto performance could encourage more institutional buying. Bitmine’s total holdings are valued at $15.8 billion, including 212 BTC, $549 million in cash and securities, and equity stakes in Beast Industries and Eightco Holdings. About 85% of its ETH is staked, generating an estimated $334 million in annualized revenue at a 2.62% yield, with a potential $392 million if all ETH were staked. Meanwhile, Strategy did not buy Bitcoin last week and instead spent $139 million on preferred share buybacks.
