Bitmine holds 5.96M ETH worth ~$15B after its weekly purchase, with 85% now staked at 2.62% annualized yield. Adviser DeMark forecasts a sharp ETH move.
Ethereum News
Bitmine Immersion Technologies is closing in on its goal of holding 5% of Ethereum's (ETH) circulating supply. The company disclosed on Sept. 14 that it purchased 27,180 ETH during the prior week, bringing total holdings to 5,956,378 ETH. That position represents roughly 4.9% of Ethereum's 122 million token supply.
Chairman Tom Lee noted that Bitmine has added ETH every week since starting its treasury strategy on June 30, 2025. The latest purchase was slightly smaller than the prior week's addition of 28,086 ETH, which had lifted holdings to 5.93 million tokens. At $2,513 per ETH, the Sept. 13 valuation of the holdings came to approximately $15 billion.
The company also holds 212 Bitcoin (BTC) alongside its ETH position. Additional holdings include a $180 million stake in Beast Industries and a $98 million stake in Eightco Holdings. Cash and marketable securities add $549 million, bringing Bitmine's total reported holdings to $15.8 billion.
Staking Converts ETH Holdings Into Recurring Revenue
As of Sept. 7, Bitmine had locked 5,067,309 ETH into staking operations. That represents roughly 85% of its total ETH position, valued at $12.7 billion at the company's stated price. Staking operations generated a seven-day annualized yield of 2.62%, with projected annual revenue of $334 million at current rates.
Lee said total annual staking revenue could climb to $392 million if all of Bitmine's ETH were staked through MAVAN and its partners. Both projections depend on prevailing token prices and yields at the time. The model gives Bitmine a structural difference from Bitcoin treasury companies, whose BTC holdings do not generate native proof-of-stake (PoS) yield.
Rival Ethereum treasury company SharpLink announced plans in August to stake $200 million worth of ETH through Lido. It expects to receive tokens representing its staked position and rewards, which it plans to deploy in decentralized finance (DeFi) applications. The move reflects a broader pattern of ETH treasury companies turning staked positions into active capital.
Related Article: Bitcoin, Ethereum Rally 20%+ — Is the Crypto Bear Market Over?
Advisers Flag Technical Setup for ETH Price Move
Tom DeMark, founder of DeMark Analytics and a capital markets adviser to Bitmine, said ETH is positioned for a sharp upward move in the coming weeks. He pointed to August price behavior, during which ETH moved sideways without breaking lower. DeMark said the expiration of a 12-day technical metric signals a renewal of the prior uptrend.
"We believe this further supports the continuation of the prior uptrend. We expect late August's sharp one-day rally was a likely preview of the pending advance," DeMark said. Lee added that the ETH/BTC ratio hit its highest point since Jan. 30, which he called the start of a new uptrend for the pair. He also said ETH, Solana (SOL), and BTC ranked as the three best-performing macro assets since June 30, with ETH outpacing the S&P 500 by 5,866 basis points in Q3 through the prior Friday.
Ethereum was trading above $2,500 on Sept. 14, up 1.4% over 24 hours, with a market cap of $306.3 billion. Bitmine shares closed at $25.03 on Sept. 12, up 3.43% on the day, and were little changed in Monday morning trading.
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