Bitmine Adds ETH as Staking and Rally Hopes Grow

Bitmine Immersion Technologies bought 27,180 ETH in the week ending 13 September 2026, increasing its Ethereum treasury to 5,956,378 ETH. At about $2,513 per token, the holdings were worth nearly $15 billion and represented roughly 4.9% of Ethereum’s total supply, bringing Bitmine close to its 5% ownership target. The company said it has bought ETH every week since launching its Ethereum treasury strategy in June 2025. Bitmine has staked 5,067,309 ETH, or about 85% of its holdings, through its MAVAN institutional staking platform and partners. Based on a recent seven-day annualised yield of 2.62%, the company estimates annualised staking revenue of $334 million, potentially rising to $392 million if all its ETH is staked. Returns may change with network activity, validator participation and Ethereum issuance rules. The company also reported 212 BTC, $549 million in cash and marketable securities, and investments linked to Beast Industries and Eightco Holdings (ORBS). Chairman Tom Lee said ETH had outperformed the S&P 500 by 5,866 basis points in the third quarter of 2026 to date. He cited possible US crypto legislation, renewed Korean demand, a stronger ETH/BTC ratio, tokenisation and institutional interest in agentic artificial intelligence as potential catalysts. A Senate vote on the CLARITY Act could provide clearer digital-asset rules and define SEC and CFTC oversight, although political and procedural obstacles remain. Bitmine adviser Tom DeMark expects ETH to resume its advance. However, ETH’s resistance near $2,550, weak trend strength and negative Chaikin Money Flow indicate caution among traders. The news is broadly supportive for ETH, but price direction will also depend on Federal Reserve policy, regulation, market sentiment and confirmed institutional inflows. Bitmine’s large ETH exposure also makes its balance sheet and BMNR shares highly sensitive to Ethereum price movements.