BitMine Immersion Technologies (BMNR) purchased 27,562 Ethereum (ETH) in the week ending September 20, pushing total crypto, cash, and moonshot holdings to $17.1 billion. The company now holds 5,983,940 ETH, equal to 4.9% of total supply, and is 98% toward its goal of owning 5% of all ETH. Staked ether totaled 5,067,309 ETH for five consecutive weeks, with projected annualized staking revenue of $357 million. Chairman Thomas “Tom” Lee said a crypto bull market began in late June and expects stronger institutional moves in the fourth quarter of 2026.
BitMine Immersion Technologies (BMNR) added 27,562 Ethereum (ETH) during the week to September 20 and reported combined crypto, cash, and moonshot holdings of $17.1 billion in a press release and 8-K filed September 21.
Total holdings rose $1.3 billion from the $15.8 billion reported a week earlier, when it added 27,180 ETH. The company marked its Ether at $2,688 per token, up from $2,513 a week earlier, placing the week’s purchases at roughly $74 million.
BitMine Chairman Thomas “Tom” Lee stated the company “has bought ETH each and every week since the inception of its ETH Treasury Strategy on June 30, 2025.” Holdings equal 4.9% of the 122.1 million ETH in supply, putting the firm 98% of the way to its target of owning 5% of all ETH.
BitMine stakes 5,067,309 ETH, worth $13.6 billion and representing 85% of the treasury, through MAVAN, its Made in America Validator Network. The staked count has held flat for five weekly updates even as total tokens rose. Lee projected annualized staking revenue at $357 million, rising to $421 million once fully staked, based on a 2.62% seven-day yield.
“We believe a crypto bull market is underway, having started in late June,” Lee said, citing “the rotation from AI back to crypto.” He added that the quarter-to-date lead over the S&P 500 stands at 6,519 basis points, calling the run “a prelude to a potentially stronger up move in the 4th quarter of 2026.”
Cash and marketable securities rose to $714 million from $549 million a week earlier. Alongside ether, BitMine held 212 Bitcoin, a $180 million stake in Beast Industries, and a $105 million position in Eightco Holdings (ORBS). BMNR traded $1.2 billion in average daily dollar volume over the five days to September 18. The release ranks BitMine first among ether treasuries and second among crypto treasuries overall, behind Strategy (MSTR), which owns 845,080 Bitcoin worth about $75 billion.
