BitMine Immersion Technologies reaches 6M ETH holdings (4.9% of total supply) with 5M ETH staked generating $358M annualized staking revenue, though weekly purchase pace has slowed.
Macro & Markets ·
BitMine Immersion Technologies has surpassed 6 million ETH in holdings, acquiring 17,362 tokens in the week ending September 27 to reach a total of 6,001,302 ETH, representing 4.9% of the total ether supply. The purchase pace has decelerated compared to the prior week's 27,562 tokens. The company has maintained a weekly buying cadence since its treasury strategy began on June 30, 2025, crossing the 5 million ETH milestone in late April.
BitMine reports 5,067,309 ETH staked, generating projected annualized staking revenue of $358 million based on current yields, with potential to reach $424 million once all holdings are staked. The staked portion represents 84% of total ETH holdings, with staking conducted through MAVAN—the Made in America Validator Network launched in March—and external staking partners. Cash and marketable securities declined to $672 million from $714 million the previous week, though BitMine gave no reason for the decline.
Beyond ethereum, BitMine holds 213 Bitcoin and stakes in Beast Industries and Eightco Holdings. The company's aggregate crypto, cash, securities, and equity holdings totaled $17.2 billion at the time of reporting, positioning it second globally among crypto treasuries. The weekly purchase volume trend—declining from prior weeks—suggests either a temporary reduction in acquisition velocity or market-driven adjustments to capital allocation strategy, though management guidance on future buying intentions remains unstated.