BitMine Immersion Technologies has bought another 15,112 Ethereum worth about $41 million, taking its total holdings to 6,016,414 ETH. The company said its Ethereum treasury now represents about 4.9% of the network’s total supply, bringing it very close to its “Alchemy of 5%” target.
At an ETH reference price of $2,726, BitMine’s holdings were worth about $16.4 billion. The company said its wider portfolio, including crypto, cash, marketable securities and other investments, was worth $17.4 billion as of October 4. Chairman Tom Lee said BitMine has bought ETH every week since launching its treasury strategy.
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BitMine provided its latest holdings update for October 5, 2026$17.4 billion in total crypto + “moonshots”:
– 6,016,414 ETH at $2,726 per ETH (per @coinbase)
– 214 Bitcoin (BTC)
– $180 million stake in Beast Industries @MrBeast
– $117 million stake in Eightco Holdings (NASDAQ:$ORBS) (“moonshots”) and
– total cash and marketable securities of $643 million.Ticker:
$BMNR common equity
$BMNP 9.5% perpetual preferred, dividends paid weekly
Chairman: Tom Lee @fundstrat
Link ⛓️
https://t.co/8PqyZvFBt6— Bitmine (NYSE-BMNR) $ETH $BMNP (@BitMNR) October 5, 2026
BitMine began its Ethereum Treasury Strategy on June 30, 2025. Since then, the company has steadily built its position, with the latest purchase taking it to more than 6 million ETH.
The company now needs to acquire only a relatively small amount more to reach its stated goal of holding 5% of Ethereum’s total supply. Based on the 122.1 million ETH supply figure used by BitMine, its current holdings represent about 4.9%.
A large portion of those holdings is already being put to work. BitMine said it had staked 5,067,309 ETH as of October 4, representing roughly 84% of its total Ethereum holdings. At the reference price of $2,726, the staked ETH was worth about $13.8 billion.
The company operates its own staking platform, called MAVAN, or Made in America Validator Network. It was initially developed for BitMine’s treasury but has since been opened to institutional investors, custodians and other ecosystem participants.
Staking is also becoming an important part of BitMine’s strategy. Tom Lee said annualised staking revenue is now projected at about $363 million, based on a seven-day annualised yield of 2.63%. He has suggested that if the company eventually stakes its entire Ethereum treasury through MAVAN and its partners, annualised rewards could rise to around $431 million.
BitMine’s wider portfolio includes 214 Bitcoin, $643 million in cash and marketable securities, and investments in companies including Beast Industries and Eightco Holdings. The company describes itself as having the world’s largest Ethereum treasury and the second-largest overall crypto treasury, behind Strategy.
Lee has also highlighted BitMine’s stock performance. According to the company, BMNR declined about 3% during the first nine months of 2026, while ETH fell 10% over the same period. BitMine has also bought back 21 million of its own shares this year.
The company remains bullish on Ethereum and the broader crypto market. Lee is due to speak at Token2049 in Singapore on October 7, while BitMine plans to release its October chairman’s message under the title “Crypto bull underway — this cycle likely the largest.”
For now, though, the most closely watched number is 5%. With more than 6.02 million ETH already in its treasury, BitMine is getting remarkably close to that ambitious target.
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