BitMine Immersion Technologies said it bought another 17,362 ETH over the past week, taking its Ethereum treasury to 6,001,302 ETH. The company said that total represents about 4.9% of Ethereum’s circulating supply and leaves it close to its stated target of holding 5% of the network’s supply.

The latest update also showed that most of BitMine’s Ether remains deployed in staking. As of Sept. 27, the company reported 5,067,309 staked ETH, or about 84% of its total holdings, while valuing its broader portfolio of crypto, cash, securities and other investments at $17.2 billion.

Weekly buying campaign continues

BitMine said the latest purchase is part of an accumulation strategy it began on June 30, 2025. According to chairman Tom Lee, the company has added ETH every week since the strategy launched, extending a steady pattern of treasury expansion rather than a one-off acquisition.

The new total of 6,001,302 ETH pushed the company above the six million mark. BitMine described the treasury as 98% of the way toward its 5% Ethereum supply goal, a milestone it has repeatedly highlighted in recent updates.

Holdings rose from the prior weekly update

The latest figures follow another reported increase a week earlier, when BitMine said it held 5,983,940 ETH after purchasing 27,562 ETH. At that stage, the company also said its treasury amounted to roughly 4.9% of Ethereum’s 122.1 million ETH supply.

The newest addition was smaller than the previous week’s purchase, but it was enough to take the treasury to a new threshold. Based on the company’s own figures, BitMine remains just short of the 5% ownership level it has set as a target.

Most of the treasury is staked

BitMine reported that 5,067,309 ETH was staked as of Sept. 27. That is about 84% of the company’s total Ether position, indicating that most of the treasury is being used to generate staking income rather than being held entirely idle.

Using a reference price of $2,698, the company valued the staked ETH at about $13.7 billion. It also projected annualized staking revenue of roughly $358 million, and said potential rewards could reach about $424 million if the full position were staked through MAVAN and partner arrangements.

Broader portfolio reached $17.2 billion

Beyond its Ether holdings, BitMine said its total portfolio stood at $17.2 billion. That figure includes 213 BTC, $672 million in cash and marketable securities, a $180 million stake in Beast Industries, and a $115 million investment in Eightco Holdings.

The company said the portfolio value had increased from $17.1 billion in the prior update. Even so, Ethereum remains the dominant component of BitMine’s balance sheet, with the company’s weekly disclosures centered on treasury growth and staking deployment.

Next step is the 5% supply target

The next confirmed marker for BitMine is whether its weekly buying program carries the treasury to the 5% Ethereum supply threshold it has set for itself. For now, the company says it is at roughly 4.9% of circulating supply and 98% of the way to that goal.

Future updates are likely to focus on the same measures BitMine has been disclosing: additional weekly ETH purchases, the share of holdings committed to staking, and changes in the total value of its crypto and investment portfolio.

Source: crypto.news