Since its previous update on September 21, Bitmine acquired an additional 17,362 ETH, announcing on Monday that its combined assets in cryptocurrency, cash, marketable securities, and alternative investments reached $17.2 billion.
Led by Chairman Tom Lee, the Ethereum treasury firm Bitmine (BMNR) has grown its reserves to 6,001,302 ETH—valued at approximately $16.1 billion at current market prices—as a result of its most recent weekly purchases.
Bitmine accumulated 17,362 more ETH following its September 21 update, disclosing on Monday that its aggregate holdings in crypto, liquid cash, marketable securities, and other investments total $17.2 billion. Although the firm did not reveal the average purchase cost, the latest acquisition is valued at roughly $46.7 million based on prevailing rates.
“Bitmine’s aggregate ETH reserves have now crossed the 6 million threshold. This is an extraordinary milestone, having built this portfolio in under 15 months. We are already observing the collaborative benefits and positive network dynamics stemming from our accumulation of nearly 5% of the total ETH circulating supply,” Lee remarked in the announcement.
“Furthermore, we continue to spot validating indicators that a cryptocurrency bull run is underway, having kicked off in late June,” Lee continued. “In our perspective, institutional players remain underallocated to crypto, and we anticipate them increasing their positions during the final months of 2026. With barely a week remaining in the third quarter of 2026 (3Q26), Ethereum’s outperformance as a macroeconomic asset continues to accelerate. Quarter-to-date, ETH is outperforming by 6,728 basis points, completely overshadowing other macro assets.”
As of September 27, Bitmine also maintains ownership of 213 BTC valued at $17.8 million, a $115 million equity stake in Eightco Holdings, a $180 million equity stake in Beast Industries, alongside liquid cash and marketable securities totaling $672 million, the company stated.
Nearing 5% ether supply target
The enterprise’s ETH stack equals upwards of 4.9% of the circulating Ethereum supply, which currently stands at roughly 122.1 million ETH according to statistics from The Block’s ether price tracker. Bitmine has now completed 98% of its journey toward the “Alchemy of 5%” supply objective within 15 months of launching its strategic Ethereum treasury initiative.
Concurrently, Bitmine’s aggregate staked Ethereum volume is pegged at 5,067,309 ETH, equal to $13.6 billion. “Bitmine has locked up more ETH in staking than any other organization globally. At full scale—once Bitmine’s ETH is entirely staked via MAVAN alongside its staking collaborators—the projected annual staking payout would hit $424 million,” stated Lee. “Anticipated yearly staking income currently sits at $358 million. Moreover, this 5.1 million ETH represents 84% of the 6.00 million ETH owned by Bitmine. The firm’s proprietary staking operations produced a seven-day annualized yield of 2.62%.”
Bitmine holds its position as the preeminent corporate Ethereum treasury owner, trailed by Joe Lubin’s Sharplink and The Ether Machine holding roughly 888,938 ETH and 496,712 ETH respectively, according to data provided by SER. Additionally, Bitmine ranks as the second-largest publicly traded crypto treasury enterprise overall, trailing Michael Saylor’s Strategy, which commands 847,666 BTC valued at $70.6 billion following its own weekly purchase announced Monday—representing over 4% of Bitcoin’s fixed 21 million supply limit.
Originally published at https://www.theblock.co/news/business/2026-09-28-tom-lees-bitmine-tops-6-million-eth-after-buying-another-17362-ether-416989.
