BitMine Lifts ETH Treasury to 6.02 Million With Smallest Buy Since Mid-August

Lee projected $363 million a year in staking revenue, based on a 2.63% seven-day yield from BitMine's own operations. BitMine has acquired 15,112 ETH in the week to October 4, taking its treasury to 6,016,414 tokens, though that purchase was smaller than the 17,362 ETH BitMine bought a week earlier. It was also the company’s smallest weekly buy since the week to August 16, when it added 9,926 ETH, according to its SEC filings. The treasury now equals 4.9% of the 122.1 million ETH in supply, short of BitMine’s 5% target. Buyback Total Matches August Figure BitMine valued its ETH at $2,726 per token, using Coinbase prices. At that price, its ETH, other crypto, cash and equity stakes total $17.4 billion. The total also covers 214 Bitcoin (BTC), a $180 million stake in Beast Industries and $117 million of Eightco Holdings (ORBS). Cash and marketable securities account for $643 million of that total. That figure fell from $672 million a week earlier and from $714 million on September 20. “We believe that as crypto enters a cycle we view as a bull market, what is notable is Bitmine’s share price outperformance of ETH during the bear market of 2025-2026,” said BitMine Chairman Tom Lee. Le...