Bitmine Ethereum Treasury Tops 6 Million ETH as Company Projects $363 Million in Annualized Staking Revenue
Bitmine Immersion Technologies has increased its Ethereum treasury to more than six million ETH and projects $363 million in annualized staking revenue as most of its holdings are deployed through staking operations.
In a Monday announcement, the company said its Ethereum holdings reached 6,016,414 ETH after purchasing another 15,112 tokens over the preceding week. Bitmine valued the Ethereum treasury at approximately $16.4 billion using an ETH price of $2,726 in its October 4 portfolio calculations.
Bitmine Holds Nearly 5% of Ethereum Supply
Bitmine's Ethereum holdings represent 4.9% of Ethereum's reported 122.1 million token supply, putting the company's position close to the 5% threshold. Ethereum accounts for the majority of Bitmine's reported $17.4 billion in crypto, cash and marketable securities holdings.
The company reported that 5,067,309 ETH, or 84% of its total Ethereum balance, is being staked through its MAVAN platform and staking partners. Bitmine assigned a value of $13.8 billion to those staked assets.
The projected $363 million in annualized staking revenue is based on a seven-day annualized yield of 2.63%. The figure represents a projection rather than revenue already collected by the company.
The remaining 949,105 ETH, equivalent to about 16% of Bitmine's Ethereum treasury, is outside the disclosed staking balance.
Bitmine Reports Bitcoin and Corporate Investments
Bitmine also disclosed holdings beyond Ethereum, including 214 bitcoin, a $180 million stake in Beast Industries and $117 million invested in Eightco Holdings. The two corporate investments together represent $297 million.
The company reported another $643 million in cash and marketable securities. Combined with its cryptocurrency holdings and other investments, those assets contributed to Bitmine's reported portfolio value of $17.4 billion.
Tom Lee Highlights Ethereum's Third-Quarter Performance
Bitmine Chairman Tom Lee pointed to Ethereum's performance against the S&P 500 during the third quarter. Lee said Ethereum outperformed the index by 6,832 basis points despite several macroeconomic pressures during the period.
Lee cited a hawkish Federal Reserve, higher oil prices, rising global bond yields and tighter financial conditions as factors affecting markets during the quarter. He highlighted Ethereum's relative performance alongside Bitmine's growing treasury and staking position.
Ether traded around $2,711 on Monday, up 0.37%, according to the source material, leaving the market price below the $2,726 valuation used in Bitmine's October 4 treasury calculations. Ethereum had gained more than 10% over the preceding month and more than 50% over the preceding three months.
Bitmine shares closed Friday at $26.27, down 1.72%. The company's latest disclosure showed continued expansion of its Ethereum treasury, with 84% of its ETH holdings committed to staking and its annualized revenue projection tied to the reported 2.63% yield.
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.