BitMine's Ether stockpile climbs to 5.93 million tokens
DeFi & Yields ·
The Ethereum treasury firm now controls nearly 5 percent of all ETH in circulation after another week of buying.
BitMine, described as the largest Ethereum treasury company, reported holding 5,929,198 ETH as of Sep. 7, a position valued near $14.79 billion at a price of $2,495 per token, according to wublockchain.xyz. That stake equals roughly 4.9% of Ethereum's total supply of 122 million coins, underscoring how concentrated a share of the network's tokens now sits with a single corporate holder.
The latest total reflects an addition of 28,086 ETH acquired over the past week, continuing an unbroken run of weekly purchases the company says has persisted since it began its ETH accumulation approach on June 30, 2025. That steady cadence of buying, rather than a single large purchase, appears to be the main driver behind the treasury's expansion to its current size.
Beyond Ether, BitMine's balance sheet includes 211 BTC and close to $593 million in cash and marketable securities. Combined with its crypto holdings and other investments, the firm's total assets across these categories reach approximately $15.7 billion, a figure that sits above the standalone ETH valuation and reflects the broader diversification of its reserves.
A large portion of the Ether position is not simply held but actively staked. As of Sep. 7, BitMine had staked 5,067,309 ETH, equivalent to about 85% of its total holdings, generating a projected annualized staking return of roughly $330 million. That yield stream ties the company's revenue outlook directly to Ethereum's staking mechanics rather than price appreciation alone.
What remains unclear is how BitMine intends to sustain its weekly buying pattern if market conditions shift, and whether the 85% staking ratio will be adjusted as the treasury grows further. The pace of accumulation since June and the scale of its staking commitment suggest a long-term strategy, but the company has not indicated any upper limit to its Ethereum accumulation plans.