Bitmine ETH Holdings Top 6.05M as Buying Slows

Bitmine bought 10,452 ETH in the week through Oct. 25, lifting its holdings to 6,051,933 ETH, worth about $14.3 billion at the price cited in its disclosure. That represents about 4.95% of Ethereum’s circulating supply, leaving the company roughly 58,000 ETH short of its 5% target. The purchase was about 62% smaller than the previous week’s 27,562 ETH, although chairman Tom Lee said Bitmine has bought ETH every week since starting its treasury strategy in June 2025. Bitmine has staked 5,227,037 ETH—about 86% of its holdings—through its MAVAN platform and external partners. The company estimates annualised staking income of $318 million, potentially rising to $368 million if all its ETH were staked. Its disclosed assets total about $15 billion, including 215 BTC, $514 million in cash and marketable securities, and stakes in Beast Industries and Eightco Holdings. The decline in total asset value was attributed to lower ETH prices, not token sales. Bitmine also repurchased 2.04 million shares at an average price of $22.48, spending about $45.9 million. Lee said he believes the crypto bull market is continuing, noting that ETH had fallen less from its recent high than US semiconductor stocks. The large ETH position and staking activity may support the company’s long-term treasury strategy, while slower weekly purchases and price-driven valuation changes remain relevant signals for traders.