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BitMine, the largest Ethereum-focused institutional treasury company led by analyst Tom Lee, announced that its $ETH holdings have surpassed 5.93 million, reaching approximately 4.9% of Ethereum’s total supply.
According to data shared by the company, BitMine holds a total of 5,929,198 $ETH as of September 7th. Assuming an Ethereum price of $2,495, the total value of these assets is approximately $14.79 billion. Considering that the total supply of Ethereum is approximately 122 million $ETH, BitMine alone controls about 4.9% of the circulating supply.
BitMine stated that it added another 28,086 $ETH to its portfolio last week, and that it has been regularly buying $ETH every week since it launched its Ethereum treasury strategy on June 30, 2025.
In addition to Ethereum, the company’s balance sheet also includes 211 Bitcoin (BTC) and approximately $593 million worth of cash and securities. Including cryptocurrency assets, cash, securities, and other investments, BitMine’s total assets are estimated to be approximately $15.7 billion.
A significant portion of BitMine’s $ETH holdings are also used for staking. As of September 7th, the company had staked 5,067,309 $ETH, representing approximately 85% of its total Ethereum holdings.
Based on current staking yields, BitMine is expected to generate approximately $330 million in annualized revenue from its Ethereum staking operations.
The company’s average $ETH purchase price is around $3,036.
*This is not investment advice.