BitMine Passes 6 Million ETH as Weekly Purchase Slows to 17,362 Tokens

BitMine’s Tom Lee still projects $358 million a year in staking revenue, rising to $424 million once the whole treasury is staked. BitMine Immersion Technologies (BMNR) said on Monday that it holds more than 6 million Ethereum (ETH) after buying 17,362 tokens in the week ending September 27. The latest buy was smaller than the 27,562 ETH the company added a week earlier. It took the treasury to 6,001,302 ETH. That is 4.9% of the 122.1 million ETH in supply, against BitMine’s goal of owning 5%. Staked Ether Holds at 5.07 Million BitMine marked its ETH at $2,698 per token, using Coinbase prices. At that price, its crypto, cash, securities, and equity stakes add up to $17.2 billion. The release ranks BitMine second among crypto treasuries worldwide, behind Strategy (MSTR). BitMine Chairman Tom Lee said the company built the position in under 15 months. He added that BitMine has bought ETH every week since its treasury strategy began on June 30, 2025. The treasury crossed 5 million ETH in late April. BitMine reported 5,067,309 ETH staked, worth $13.7 billion at its mark. The company has reported that same count in every weekly update since August 9, according to its SEC filings. Over t...