Bitmine Ethereum Holdings Near 5% Supply Target

KEY INSIGHTS

Bitmine Ethereum holdings reached 6.04 million ETH or 4.9% of the circulating supply.
Ethereum Purchase by BitMine Adds $30 Million in ETH Holdings
Bitmine Ethereum holdings were recorded at 6.04 million ETH or 4.9 percent of Ethereum’s supply.

The Bitmine Immersion Technologies Company has increased its holdings of ether by 12,535 during the period ending October 19. It now holds a total of 6,041,481 ETH which represents 4.9 percent of the 122.1 million Ethereum tokens currently in circulation. The company claims that it has been able to reach 99 percent of its objective of holding 5 percent of the Ethereum supply via increased staking.

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The Connecticut-based firm revealed that it had a total portfolio of cryptocurrencies consisting of cash, marketable securities, and equity holdings worth $15.1 billion. Of the total value, Ethereum has been valued at $14.3 billion based on its value of $2,365 per token.

Bitmine Ethereum Holdings Approaches the 5% Target

In the latest release, an issue is raised in terms of the increasing number of ETH held by Bitmine and the value of its portfolio. Bitmine has been purchasing Ethereum on a weekly basis since starting the treasury strategy on June 30, 2025, but the value of its total assets has dropped compared to previous releases, where it was $17.4 billion and $16.2 billion.

Source: Watcher. Guru

The company’s strategy has involved repeated weekly acquisitions rather than a single large purchase. However, the latest disclosure did not specify the purchase price, funding source, transaction timing or counterparties for the additional 12,535 ETH.

Bitmine had 215 Bitcoin, $582 million worth of cash and marketable securities, $180 million in Beast Industries shares, and $74 million in Eightco Holdings shares.

Treasury component	Amount Reported
Ethereum	6,041,481 ETH
Percentage of circulating Ethereum	4.9%
Bitcoins	215 BTC
Cash and marketable securities	$582 million
Equity in Beast Industries	$180 million
Equity in Eightco Holdings	$74 million
Total reported assets	$15.1 billion

Bitmine is still the top corporate Ethereum treasury holder and second on the list of digital-asset treasury companies, coming just behind Strategy that holds Bitcoin.

Staking Generates Projected Annual Income

Staking represents another major component of Bitmine’s treasury strategy. The company reported that 5,067,309 ETH, equivalent to 84% of its holdings, had been committed to staking. The position was valued at approximately $12 billion using the reported $2,365 ETH price.

Bitmine disclosed an annualized staking yield of 2.58% and estimated that its staked holdings could generate approximately $309 million in annual rewards. If the company staked its entire Ethereum position, it projected annual rewards of about $369 million.

These figures are projections rather than guaranteed income. The company’s filing warns that actual staking yields can differ materially from estimates and identifies slashing events among the associated risks.

Bitmine operates the Made in America Validator Network, known as MAVAN, to stake treasury assets. The network also serves institutional investors, custodians and ecosystem partners. The company uses MAVAN for part of its ETH holdings and relies on external staking partners for the remainder.

The latest announcement did not detail how projected staking revenue is divided between MAVAN and outside providers or when the remaining unstaked ETH might be deployed.

Tom Lee Links Crypto Selling to AI Concerns

Bitmine Chairman Tom Lee attributed recent weakness in risk assets to several factors, including concerns about artificial intelligence investment financing and model safety, escalating U.S.-Iran tensions, anxiety ahead of U.S. midterm elections and rising global bond yields.

Lee said selling in AI-related stocks, including semiconductor and memory companies, spread into South Korean and Taiwanese markets. Moreover, he explained that the cryptocurrency selling was an outcome of the reduction in the risk exposure of the U.S., South Korea and Taiwan’s investors.

Despite the recent decline, Lee viewed the combination of low cryptocurrency prices and strong fundamentals as a potential buying opportunity. This is due to the advancements in financial infrastructure and agentic AI. These statements represent management’s assessment rather than a guarantee of future market performance.

Bitmine’s own portfolio includes equity exposure connected to the AI sector. The company holds $74 million in Eightco Holdings and $180 million in Beast Industries, alongside its cryptocurrency assets.