BitMine Raises Holdings to 6,051,933 Ether, Nearing 5% of Supply Target
Key Facts
BitMine said its Ether holdings totaled 6,051,933 units as of October 25, 2026, at 2:00 p.m. Eastern Time, and valued each unit at about $2,356. The company had reached 4.95% of the 122.2 million-unit supply and said it was 99% of the way toward its “Alchemy of 5%” goal. The figures put Ether accumulation at the center of the company’s treasury strategy. BitMine said its total digital assets, cash, marketable securities and “moonshot” investments amounted to $15 billion. The stated valuation reflects the holdings’ value at the price specified in the disclosure, while their share of supply remains a separate measure from their dollar value.
The company bought 10,452 Ether in the week before the announcement, and Chairman Tom Lee said BitMine had bought Ether every week since launching its crypto treasury strategy on June 30, 2025. That pace links the latest purchases to an ongoing plan to build the company’s balance, rather than a one-off transaction during the week. In parallel, BitMine repurchased 2.04 million shares at an average of $22.48 per share during the same week. Management said it intends to continue repurchases when it believes the stock is relatively undervalued, subject to market conditions and the existing authorization. The disclosure added that the company had bought a total of 22.9 million common shares in 2026 at an average of $17.48 per share, for a total of $399.6 million.
Lee compared Ether’s performance with the semiconductor sector in the period following the cryptocurrency’s latest peak. He said Ether had fallen 13% from that peak, while the U.S. semiconductor company index SOXX was down 20% over the same period. Lee linked pressure on cryptocurrencies to a risk-off wave associated with selling in AI stocks. The comparison provides context for the company’s account of market performance during the period, without changing the reported figures for its holdings or purchases. The disclosure did not include BitMine’s share-price movement among the details of its weekly repurchases.
Alongside its accumulation, BitMine said it had 5,227,037 Ether staked as of October 25, with a stated value of $12.3 billion based on a price of $2,356 per unit. The amount shows that most of its reported holdings had already been put into staking, while the company used 5.2 million units, equivalent to 86% of its total balance of 6.05 million, to estimate annual staking revenue. It estimated that revenue at about $318 million a year based on this amount. If its entire holdings were staked through MAVAN and its partners, it estimated annual staking rewards at about $368 million. The rewards estimate was based on a 7-day BMNR yield of 2.58%, so the figure is tied to the assumptions cited by the company.
BitMine said it launched MAVAN, an institutional validation and staking network, earlier in 2026, then expanded the service from meeting its treasury’s needs to serving institutional investors, custodians and ecosystem partners. Staking thus provides an operational complement to Ether ownership by putting assets to work on a validation platform and related services. The company said some of its units were staked through MAVAN. Against the backdrop of its activity in the stock market, BitMine said it was added to the Russell 1000 index of large U.S. companies on June 26, 2026. The disclosure also cautioned that Ether and Bitcoin prices are highly volatile, and that market conditions and operational, security and technical risks in staking and validation could affect actual results.