BitMine ETH holdings, staking and treasury strategy

BitMine Immersion Technologies disclosed a combined crypto, cash and “Moonshots” treasury valued at $15.8 billion as of September 13, reporting an ETH balance of 5,956,378 tokens marked at $2,513 each. The company added 27,180 ETH over the past week and has been buying ether weekly since launching its reserve strategy on June 30, 2025; its stash equals roughly 4.9% of the 122.0 million ETH supply and remains on a path toward the firm’s 5% target.

About 5,067,309 ETH, roughly 85% of the treasury, is staked via BitMine’s MAVAN validator network, with projected annualized staking revenue of $334 million. Chairman Thomas “Tom” Lee highlighted a rise in the ETH/BTC ratio to the highest level since January 30. The company’s other holdings include 212 BTC, a $180 million position in Beast Industries, $98 million in Eightco Holdings and $549 million in cash and marketable securities; cash fell from $593 million the prior week.

Weekly buy and rival moves

Last week’s 27,180‑ETH purchase — about $68 million — was slightly smaller than the prior week’s 28,086 ETH, leaving BitMine roughly 144,000 ETH short of its self‑set 5% target as it approaches nearly 5.96 million ETH. Chair Tom Lee reiterated demand catalysts underpinning the buys and company projections show annualized staking revenue in the $330–$334 million range; Lee also noted a higher $392 million upside if all ETH were staked through MAVAN, subject to prices and yields. Separately, rival treasury SharpLink unveiled plans to stake $200 million via Lido, while Bitcoin-focused Strategy bought no Bitcoin that week and repurchased $139 million of preferred shares.