BitMine Ethereum Holdings Reach 5.93 Million ETH, Nearing 5% of Total Supply
BitMine, the Ethereum-focused institutional treasury company led by analyst Tom Lee, has increased its Ethereum holdings to nearly 5.93 million ETH, giving the company exposure equivalent to about 4.9% of Ethereum’s total supply.
The company said it held 5,929,198 ETH as of September 7. At an assumed Ethereum price of $2,495, the holdings were worth approximately $14.79 billion.
With Ethereum’s total supply estimated at about 122 million ETH, BitMine’s holdings represent roughly 4.9% of the cryptocurrency’s circulating supply, according to the figures released by the company.
BitMine continues weekly Ethereum purchases
BitMine added another 28,086 ETH to its treasury last week, extending a buying strategy that has seen the company accumulate Ethereum on a regular basis.
The company said it has purchased ETH every week since launching its Ethereum treasury strategy on June 30, 2025.
The continued accumulation has made Ethereum the dominant asset on BitMine’s balance sheet, with the company positioning itself around an institutional treasury model centered on the second-largest cryptocurrency by market capitalization.
BitMine’s average purchase price for its Ethereum holdings is currently around $3,036 per ETH. That figure is above the $2,495 Ethereum price assumption used to calculate the value of its holdings as of September 7.
More than 5 million ETH are staked
BitMine is also putting most of its Ethereum holdings to work through staking.
As of September 7, the company had staked 5,067,309 ETH, or approximately 85% of its total Ethereum holdings.
Based on current staking yields, BitMine is expected to generate approximately $330 million in annualized revenue from its Ethereum staking operations.
The scale of the staking position means that a substantial majority of BitMine’s Ethereum treasury is being used to generate staking returns rather than remaining idle.
Bitcoin and cash add to BitMine’s asset base
Although Ethereum represents the core of BitMine’s treasury strategy, the company also holds other assets.
Its balance sheet includes 211 Bitcoin, along with approximately $593 million in cash and securities.
When cryptocurrency holdings, cash, securities and other investments are combined, BitMine’s total assets are estimated at approximately $15.7 billion.
The figures highlight the scale of the company’s treasury strategy as it continues to build a large institutional position in Ethereum while maintaining exposure to Bitcoin and traditional liquid assets.
For now, Ethereum remains the central component of BitMine’s holdings, accounting for the overwhelming majority of its reported cryptocurrency assets.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.