BitMine Immersion Technologies has purchased 27,562 ETH, taking its Ethereum holdings to 5,983,940 ETH and putting the company at about 98% of its goal of owning 5% of all Ether in circulation. The company, chaired by Fundstrat co-founder Tom Lee, valued its Ethereum holdings at about $16.1 billion as of September 20, based on an ETH price of $2,688.
BitMine has, however, raised the supply figure used to calculate its 5% target, from 120.7 million ETH in June to about 122.1 million now. On the updated figure, the company needs roughly 121,000 more ETH to reach its target.
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BitMine provided its latest holdings update for September 21, 2026$17.1 billion in total crypto + “moonshots”:
– 5,983,940 ETH at $2,688 per ETH (per @coinbase)
– 212 Bitcoin (BTC)
– $180 million stake in Beast Industries @MrBeast
– $105 million stake in Eightco Holdings…— Bitmine (NYSE-BMNR) $ETH $BMNP (@BitMNR) September 21, 2026
BitMine has been building its Ethereum treasury since launching the strategy in June 2025. The company said it has purchased Ether every week since then and now describes itself as the world’s largest corporate holder of ETH.
The latest purchase was considerably smaller than some of BitMine’s earlier weekly additions. The company bought 76,881 ETH in the week ending June 14 and another 52,203 ETH in the following week. The latest 27,562 ETH purchase is roughly half the size of the latter transaction.
BitMine held 5,983,940 ETH as of 9 p.m. ET on September 20. At the company’s stated valuation of $2,688 per token, the Ethereum holdings were worth about $16.1 billion. Including Bitcoin, cash and other investments, BitMine put its total assets at approximately $17.1 billion.
The company also reported holding 212 Bitcoin, along with $714 million in cash and marketable securities. Its other strategic investments included a $180 million stake in Beast Industries and a $105 million stake in Eightco Holdings.
A major part of BitMine’s Ethereum strategy involves staking. The company said 5,067,309 ETH, or about 85% of its holdings, was staked with Ethereum validators. Based on a seven-day annualised staking yield of 2.62%, BitMine estimated annual staking revenue of about $357 million. If all of its ETH were staked, that figure could rise to approximately $421 million.
BitMine calls its long-term target the “Alchemy of 5%”, meaning it wants to own one out of every 20 ETH. Using the updated supply estimate of 122.1 million ETH, the 5% target is roughly 6.1 million ETH. With 5.98 million ETH already in its treasury, the company is around 98% of the way there.
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