Bitmine adds Ethereum again, this time buying 27,180 ETH last week and pushing its treasury ever closer to a symbolic target: roughly 5% of Ethereum’s supply.
The company now reports 5,956,378 ETH, valued at about $14.89 billion as of Sunday evening — a holding that, combined with other assets, brings Bitmine’s total balance sheet to roughly $15.8 billion.
This latest purchase was a touch smaller than the prior week’s haul of 28,086 ETH, continuing a cadence Bitmine says it has kept since launching its treasury strategy on June 30, 2025.
Tom Lee, Bitmine’s chairman, framed the buys as part of a broader institutional story. “As we enter the final month of calendar Q3 2026, ETH is the best-performing macro asset during the quarter, outperforming the S&P 500 by 5,866bp through last Friday. In fact, the top 3 performing assets since June 30th are ETH, SOL and BTC,” Lee said in a statement. “We believe this sets the stage for institutions to add to their crypto holdings given the substantial outperformance of crypto versus other macro assets in calendar Q3 so far.”
Bitmine’s balance sheet is more than just ETH. The company also holds 212 Bitcoin, about $549 million in cash and securities, and equity stakes valued at $180 million in Beast Industries and $98 million in Eightco Holdings.
Most of the stash is working: roughly 85% of Bitmine’s Ethereum — about 5.07 million ETH — is staked, producing projected annualized revenue of $334 million at a 2.62% yield. Bitmine says that if it staked all its ETH through MAVAN and partners, revenue could climb to $392 million, though both figures hinge on token prices and yield rates.
Across the market, other players are also leaning into staking. Rival treasury firm SharpLink revealed plans in August to stake $200 million through Lido, a move that will give it liquid staking tokens it can use in decentralized finance.
Not every big crypto holder is buying. Bitcoin-focused Strategy reported no BTC purchases in the week through September 13, instead spending $139 million on preferred-share buybacks, according to filings.
Why Bitmine adds Ethereum matters
Bitmine adds Ethereum not just to hoard tokens but to tilt the institutional conversation. Large, regular buys from a public company make ETH a headline asset for investors who track balance-sheet moves, staking yields, and the growing interplay between treasuries and DeFi.
For the broader internet culture, the story is part financial maneuver and part status signal: a public company treating a native blockchain token as a core treasury instrument, staking most of it to generate yield while keeping enough liquidity and on-chain exposure to participate in decentralized markets.