Tom Lee's BitMine Adds $41M in ETH as Holdings Reach 6.02M Tokens

What happened

BitMine Immersion Technologies reported Ethereum holdings of 6,016,414 ETH as of October 4, 2026. The company added 15,112 ETH during the latest week. At a stated price of $2,726 per token, that purchase came to roughly $41 million, and the whole position was valued at about $16.4 billion. BitMine said the balance equals about 4.9% of Ethereum's 122.1 million token supply.

BitMine is working toward 5% of the network's supply, a goal it calls the "Alchemy of 5%." Chairman Tom Lee said the company has bought ETH every week since the treasury strategy began on June 30, 2025. The latest purchase followed a 17,362 ETH buy in late September that took the treasury past 6 million tokens. At that point the company held 6,001,302 ETH and was 98% of the way toward its stated goal.

Why it matters

Staking sits at the center of the operation. BitMine has staked 5,067,309 ETH, worth about $13.8 billion and equal to 84% of its Ethereum holdings. That balance, run through the MAVAN platform and staking partners, is projected to produce $363 million in annual staking revenue at a seven-day annualized yield of 2.63%. If the company staked its full ETH balance, it projects $431 million a year. Staking and validation brought in $45.7 million in the three months ended May 31, which was 98% of its $46.5 million in quarterly revenue.

The buying pace also shapes how close BitMine gets to its supply target. The company reported total crypto, cash, marketable securities and other investments of $17.4 billion, including 214 Bitcoin and $643 million in cash and marketable securities. Its staked balance has grown from roughly 4.9 million ETH when quarterly results were reported in July.

What the data shows

• Treasury: 6,016,414 ETH, valued at about $16.4 billion using a $2,726 reference price.
• Supply share: about 4.9% of Ethereum's 122.1 million tokens, against a stated 5% target.
• Staking: 5,067,309 ETH staked, or 84% of holdings, worth about $13.8 billion.
• Revenue: $363 million projected annually, rising to $431 million if all ETH is staked, at a 2.63% seven-day annualized yield.
• Other assets: $17.4 billion in total crypto, cash, marketable securities and other investments, including 214 Bitcoin and $643 million in cash and marketable securities.

Background

• BitMine launched its Ethereum treasury strategy on June 30, 2025 and has bought ETH every week since, according to Lee.
• MAVAN, the Made in America Validator Network, sits behind the company's staking work.
• Lee said BitMine expects the current crypto market cycle to develop into a larger bull run than previous cycles.
• BitMine was added to the Russell 1000 Large-Cap Index on June 26, 2026.

What to watch

• 2026-10-07 Lee is scheduled to deliver a keynote at Token2049 in Singapore.

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