BitMine Immersion Technologies bought 28,086 Ethereum tokens worth $70.1 million. This brings its Ethereum holdings to 5,93 million. Chairman Tom Lee is predicting further growth for this asset.
The following is a summary of the information that you will find on this page.
- BitMine has increased its token holdings by 5,929198 after acquiring 28,086 Ethereum last week.
- Now, the company owns a total of 4.9% (or 122,000,000) tokens in Ethereum.
- The stake of more than 5,06 million ETH has a projected revenue of $330 millions per year.
- Tom Lee has cited U.S. Crypto legislation, blockchain-based AI, and tokenization as possible market drivers.
BitMine’s Ethereum treasure has now reached 5.93 Million ETH
BitMine in an Sep. 8, treasury update It reported that, as of September 7, it had 5,929198 ETH after purchasing 28,086 tokens in the week prior.
The latest purchase was valued at approximately $70.1million using the reference price for the company of $2495. At the same price its entire Ethereum holding was worth approximately $14.79 billion. However, the value on the balance sheet will fluctuate along with ETH.
“Over the past week, we acquired 28,086 ETH,” Lee said.
This purchase continued a trend that started when BitMine implemented its Ethereum Treasury strategy on 30 June 2025. Lee claims that BitMine has been adding ETH to its treasury every week ever since they started the plan.
BitMine was reported by crypto.news on August 31 as having previously been in existence. added 53,501 ETHIts balance has now reached 5,901,112 coins. In the previous update, the weekly purchases were 9,926 Ether during the time period ending August 16, and 32 447 Ether in the subsequent update.
With the 122,000,000 ETH that was used to make the announcement, BitMine currently controls 4.9%. The company claimed to have completed 97% its goal of owning 5% of supply. “Alchemy of 5%.”
To reach a 5% reduction in the current estimate of BitMine’s supply, it would take approximately 6.1 millions ETH. BitMine remains approximately 170,802 Ethereum below this level. However, the amount required can vary as Ethereum’s overall supply fluctuates.
The balance sheet for Sep. 7, in addition to Ethereum, included 211 Bitcoins, $593 in cash and marketable assets, an investment of $180 in Beast Industries and $91 in Eightco Holdings. BitMine valued all of its cryptocurrency, cash, marketable securities and strategic investments combined at $15 billion.
The staked ETH market could bring in $330,000,000 per annum
BitMine also reported that 5 067 309 ETH were staked through the Made in America Validator Network, and other external staking partner. At the company’s current reference price, this staked position is worth approximately $12.6billion and represents about 85% its Ethereum holdings.
According to management, staking revenues are estimated at $330 million annually based upon a yield of 2.51% for a period of seven days. BitMine projects that if the company stakes the full balance of ETH via MAVAN validators and partners, it will earn an estimated $386M in annual rewards under the same assumption.
The figures shown are not actual revenue but projections. Ethereum staking return can vary depending on network participation, validater performance, protocol rule, and market price.
BitMine introduced MAVAN to its own treasury in 2026. The platform, according to its latest announcement has expanded to include institutional investors, custodians and other Ethereum participants.
The company’s operating revenues have already benefited from staking. BitMine’s previous Treasury Report showed it earned about $98% of the $46.5 million reported quarterly revenue from BitMine through staking.
BitMine’s preferred stock structure is supported by the same revenue stream. Its 9.50% Perpetual Series A Preferred Stock, which trades under the BMNP ticker on the New York Stock Exchange, is supported by the same income stream. Lee had previously suggested that staking earnings could fund preferred-share payouts.
Tom Lee believes that tokenization, AI and Ethereum will support each other
Lee’s bullish outlook on Ethereum, and the other major cryptocurrencies was not affected by BitMine continuing to buy. He said ETH had been the best-performing macro asset during the third quarter through Sep. 4, beating the S&P 500 by 5,430 basis points.
Lee has also named ETH, Bitcoin and Solana the top three performing assets in terms of performance since June 30, 2016. On the basis of that performance, Lee argued institutional fund managers might consider increasing their digital asset exposure, although this statement is his opinion and not a confirmation of any purchases.
“We believe there are multiple positive catalysts as we head into the final months of 2026,” Lee said.
Lee cited a number of factors, including the expected vote mid-September on the CLARITY act, the renewed purchases of crypto by South Korean investors and tokenizations for financial assets, as well as the use by AI agents. Lee announced the timing for the vote in Congress, but it should not be regarded as a legislative calendar.
Lee anticipates that AI-related activities and tokenization will lead to a greater use of Ethereum than Bitcoin. Lee also attended the August meeting. linked Ethereum demand ETH will outperform Bitcoin at the moment, according to a prediction made by the author.
According to his framework, initial coin offerings supported Ethereum during the 2017–2018 cycle, NFTs drove activity in 2020–2021, and stablecoins played a central role in 2025. Lee thinks tokenized assets, blockchain-based AI agents and stablecoins could play a similar part during the next phase of ETH’s growth.
Ethereum’s recent performance in terms of price has strengthened this argument. During the Week ending August 24, ETH gained 29.3%Bitcoin has seen a 21,4% rise in the same time period.
Tom DeMark of DeMark Analytics, a BitMine adviser, provided a different technical perspective in the update. He stated that ETH had traded in a sideways fashion through August, without descending any lower. This allowed a 12-day bullish signal to be expired.
“We believe this further supports the continuation of the prior uptrend,” DeMark added that the one-day sharp rally from the week before may have been a preview for the next move he anticipates. This is a forecast, and it does not mean that ETH will rally again.
BMNR provides indirect Ethereum exposure to U.S. investors
BitMine offers U.S. Investors exposure to a publicly traded company with a balance sheet that is heavily tied to Ethereum. Fundstrat stated in August that BMNR showed an 80% correlation to ETH when comparing 17 large crypto-linked companies. However, the firm didn’t disclose the period of measurement used.
BMNR has gained 99% during the third quarter, according to BitMine, making it the fourth-best-performing stock in the Russell 1000 during that period. The index rose 3% while crypto-related firms ranked as the 21 best performers.
BitMine joined the Russell 1000 Large Cap Index on 26 June. According to Fundstrat, BMNR had an average daily volume of $1.1 million during the five days ending September 4, placing it 81st out 5,704 U.S. listed stocks.
These figures indicate that BMNR is exposed to more than just changes in the ETH value, as staking revenue, operational expenses, funding decisions and other investments may also impact the stock. In addition to the Beast Industries, Eightco, and cash positions, it also reported a total of $15.7 billion in assets. This included Bitcoins, marketable securities, and bitcoins.
BitMine said that its Ethereum holdings also made it the largest corporate ETH treasury in the world and the second largest cryptocurrency treasury behind Strategy. Strategy, a company that reported an 840,447 BTC balance, worth approximately $66 Billion, was cited by the company.
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Source: crypto.news
