The BitMine Immersion Technologies expanded its reserves to 5.96 million ETH and now holds about 4.9% of all Ethereum in circulation, according to an update released by the company on Monday (14). The company bought another 27,180 ETH last week and is close to reaching its goal of accumulating 5% of the cryptocurrency's supply.
Based on the supply of 122 million ETH used by BitMine itself, the current holding corresponds to 5,956,378 tokens. To reach exactly 5% of that volume, the company would need to add approximately 144,000 ETH to its reserves.
The accumulation strategy began on June 30, 2025, and calls for recurring Ethereum purchases. BitMine says it has acquired ETH every week since then. In the previous update, dated September 8, the company held 5,929,198 ETH, also equivalent to about 4.9% of the supply.
The concentration makes the company the largest corporate Ethereum treasury, according to its own data. Considering the price of US$ 2,513 per ETH used in the balance sheet released on September 13, the Ethereum position is worth nearly US$ 15 billion.
In addition to ETH, BitMine reported holding 212 bitcoins, US$ 549 million in cash and marketable securities, a stake valued at US$ 180 million in Beast Industries and US$ 98 million in Eightco Holdings. The group of crypto assets, cash, securities and other investments was valued at US$ 15.8 billion.
More than 5 million ETH are being staked
A large part of the reserves is not merely held in treasury. The company reported that 5,067,309 ETH, about 85% of its total position, are being staked — a process by which the tokens are used to validate the Ethereum network in exchange for rewards.
BitMine estimates that its current staking operations could generate approximately US$ 334 million per year, based on the recent annualized yield of 2.62%. If the entire ETH position is placed in staking under similar conditions, the company's projection rises to about US$ 392 million annually.
The company's stated goal remains to reach 5% of the entire Ethereum supply. With the current position, BitMine says it has completed about 98% of that goal.
