BitMine Immersion Technologies reported holding 6,001,302 Ethereum (ETH) as of the week ending September 27, having acquired 17,362 ETH during that period. This acquisition follows a trend of weekly ETH purchases that began on June 30, 2025, as part of the company’s treasury strategy. The latest purchase was smaller than the 27,562 ETH acquired the previous week.
As of September 27, BitMine Immersion Technologies’ total ETH holdings represent approximately 4.9% of the total ETH supply, approaching its stated goal of holding 5%. The company has valued its ETH holdings at $2,698 per token, contributing to a total valuation of its crypto, cash, securities, and equity stakes at $17.2 billion.
BitMine has been acquiring ETH weekly since June 30, 2025. The company reported that 5,067,309 ETH of its total holdings were staked, valued at $13.7 billion. This staked amount constitutes 84% of its total ETH holdings. Staking operations are conducted through its Made in America Validator Network (MAVAN), launched in March, and via external partners.
Projected annualized staking revenue currently stands at $358 million, based on a 2.62% seven-day yield from BitMine’s operations. This projection could rise to $424 million annually if all of its ETH holdings were to be staked.
In addition to its ETH position, BitMine Immersion Technologies also held 213 Bitcoin (BTC) as of September 27. The company reported other investments, including a $180 million stake in Beast Industries and a $115 million position in Eightco Holdings, which BitMine describes as offering indirect exposure to OpenAI.
During the week ending September 27, BitMine Immersion Technologies’ cash and marketable securities decreased to $672 million from $714 million in the previous week. The company gave no reason for this decline.
In the broader market context, ETH has outperformed the S&P 500 by 6,728 basis points in the quarter to date. Tom Lee, who is scheduled to speak at Korea Blockchain Week in Seoul on September 30, has noted that institutions are currently underweight in crypto and are expected to increase their exposure in the final months of 2026.
Uncertainties remain regarding the specific reason for the decline in BitMine’s cash and marketable securities. The exact total supply of ETH is a dynamic figure, and the precise date of the previous week’s purchase of 27,562 ETH was not specified.
Why This Matters
The materials describe a narrow update: BitMine Immersion Technologies reported holding 6,001,302 ETH as of September 27, after purchasing 17,362 ETH in the preceding week. The specific reason for the decline in BitMine’s cash and marketable securities was not provided.
