--- title: "Bitmine Adds 17,362 ETH, Lifting Treasury Past 6 Million" date: 2026-09-28 author: "Kathleen Kinder" featured_image: "https://coinlaw.io/wp-content/uploads/2026/09/bitmine-17362-eth-purchase.jpg" categories: - name: "Cryptocurrency" url: "/crypto.md" tags: - name: "News" url: "/tag/news.md" --- # Bitmine Adds 17,362 ETH, Lifting Treasury Past 6 Million Bitmine Immersion Technologies (NYSE: BMNR) held 6,001,302 ETH as of September 27, 2026, pushing its Ethereum treasury past 6 million tokens. The company’s crypto, cash and marketable securities holdings now total $17.2 billion. ## The Brief - Bitmine’s ETH position equals 4.9% of Ethereum’s 122.1 million token supply, leaving the company just short of its 5% target. - Staked ETH reached 5,067,309 tokens, worth $13.7 billion at the $2,698 Coinbase price Bitmine used for its count. - The company added 17,362 ETH over the past week, extending a weekly buying run that dates to June 30, 2025. - Chairman Tom Lee projects $358 million in annualized staking revenue, rising to $424 million once the whole treasury is staked. Bitmine released the figures in its weekly holdings update. Beyond ETH, the company listed 213 bitcoin and $672 million in cash and marketable securities. It also carries two equity bets it calls moonshots: a $180 million stake in Beast Industries and $115 million in Eightco Holdings (NASDAQ: ORBS). Lee argued that no public company matches Bitmine’s record of steady crypto buying. The new total builds on [Bitmine’s previous ETH holdings update](https://coinlaw.io/bitmine-eth-holdings-5-8-million-record-buyback/), and it lands while ETH runs well ahead of stocks. Lee said ETH has beaten the S&P 500 by 6,728 basis points so far this quarter. > BitMine Buys 17,362 ETH, Total Holdings Top 6 Million ETH > > BitMine said it acquired 17,362 ETH over the past week, bringing total holdings to 6,001,302 ETH as of September 27. The position represents about 4.9% of Ethereum’s 122.1 million ETH supply, putting the company 98% of… [pic.twitter.com/Pt2Io5aK8g](https://t.co/Pt2Io5aK8g) > > — Wu Blockchain (@WuBlockchain) [September 28, 2026](https://x.com/WuBlockchain/status/2104549917087961576?ref_src=twsrc%5Etfw) ## Staking turns the treasury into an income stream Staking is where the treasury starts to look like an operating business. Bitmine now stakes **84%** of its ETH, and Lee said its own operations earned a 2.62% annualized seven-day yield. That rate sits behind the $358 million projection, while the remaining 16% of tokens accounts for the gap to his full-deployment figure. Part of that staking runs through MAVAN (the Made in America VAlidator Network), which Bitmine launched earlier this year for its own treasury. The platform now also serves institutional investors, custodians and ecosystem partners. The yield sets Bitmine apart from [Strategy Inc. (formerly MicroStrategy)](https://coinlaw.io/microstrategy-statistics/), the only treasury it ranks behind globally. Strategy reportedly owns 845,080 BTC worth about $75 billion. Bitcoin offers no protocol-level staking reward, so that larger pile can’t generate the kind of recurring income Bitmine is projecting. Lee expects more buyers to follow. “ In our view, institutions are still underweight crypto and we expect them to be adding to their exposure in the final months of 2026. Tom LeeChairman – Bitmine ## Bitmine closes in on its 5% supply goal Bitmine calls the target the [Alchemy of 5%](https://coinlaw.io/bitmine-ethereum-5-percent-holdings/), and by its own count it’s 98% of the way there in under 15 months. At 5% of supply, the goal works out to roughly 6.1 million ETH, about 104,000 tokens above the current position. The stock has become a liquid route into that bet. **BMNR averaged $1.1 billion in daily dollar volume** over five days, ranking 94th among 5,704 US-listed stocks on Fundstrat data cited by the company. It joined the Russell 1000 large-cap index this year, and its Series A preferred shares trade on the NYSE as BMNP. Holders comparing the weekly figures with [BMNR’s broader stock statistics](https://coinlaw.io/bmnr-bitmine-stock-statistics/) should keep one limit in view. Every dollar total in the update is company-reported and marked at a single ETH price, so it moves with the token. The release also doesn’t say how last week’s purchase was funded or what average price Bitmine paid. Definition of Blockchain. Link to full glossary entry follows the description.**Blockchain**A distributed digital ledger that records transactions across a network, with each block cryptographically linked to the previous one for security. [Read more](https://coinlaw.io/glossary/blockchain/) Definition of Staking. Link to full glossary entry follows the description.**Staking**Staking is the process of locking cryptocurrency in a proof-of-stake network to help validate transactions and earn rewards, replacing energy-intensive mining. [Read more](https://coinlaw.io/glossary/staking/)