Bitmine Immersion Technologies indicates that another 15,112 Ether were purchased in the past week, bringing his Ether holdings to 6,016,414 ETH. He is now just one step away from his goal of holding 5% of the total Ether supply.

According to the position update on October 5th as per Bitmine, calculated at a reference price of $2,726 per coin, the value of this portion of ETH holdings is approximately $16.4 billion. The company stated that its holdings are equivalent to 4.9% of the 122.1 million token supply of Ethereum.

The Chairman Tom Lee stated that since the launch of the Ethereum treasury strategy on June 30, 2025, the company has been continuously purchasing ETH on a weekly basis. This latest purchase follows a previous increase of 17,362 ETH, which enabled the company to surpass the 6 million ETH milestone at the end of September.

Lee said that since the implementation of this strategy, the company's buying activities have never ceased.

Bitmine has pledged 84% of its ETH.

Bitmine At present, most of the ETH have been used for staking. Among them, 5,067,309 tokens, amounting to approximately $13.8 billion, are staked through its MAVAN platform and staking partners.

This portion of the pledged balance accounts for 84% of the company's 6.02 million ETH treasury. According to the current assumptions, Bitmine indicates that its own pledged business has a seven-day annualized yield rate of 2.63%, with an estimated annualized pledged income of 363 million US dollars.

If all ETH balances are used for staking through MAVAN and its partners, and the same 2.63% yield rate is maintained, the company expects the annualized reward to reach 431 million US dollars.

MAVAN is an abbreviation for Made, in, and America Validator Network. It was launched earlier in 2026 to support the company's Ethereum holdings. Since then, Bitmine has made this infrastructure available to institutional investors, custodians, and other ecosystem participants.

Pledge has become an important source of revenue for the company. Bitmine indicates that within three months as of May 31, the company earned $45.7 million from pledge and verification services, accounting for 98% of its quarterly revenue of $46.5 million.

As the treasury scale expands, the scale of this business is also growing. When Bitmine announced its quarterly results in July, there were approximately 4.9 million ETH in a pledged state, and now that number has exceeded 5.06 million.

Looking back at the disclosure at the end of September regarding its 5 million ETH pledged positions, at that time the company had a total treasury of 6,001,302 ETH, of which 5,067,309 ETH were already used for pledging. The annualized yield at that time was 2.62%, with an estimated annualized pledged income of 358 million US dollars.

In the latest disclosure, the balance of ETH pledged remains unchanged, while the treasury continues to grow due to another week of purchases.

Tom Lee states that despite macroeconomic pressures, ETH still performs strongly.

Lee Utilizes the latest position updates to highlight Ethereum's performance compared to traditional markets in the third quarter.

According to this chairman, Bitmine, despite rising oil prices, increasing global bond yields, a tightening financial environment, and the pressure exerted by what he referred to as the "hawkish" Federal Reserve, ETH still outperformed the S&P 500 index by 6,832 basis points this quarter.

Lee indicates: "Considering the significant macroeconomic headwinds that occurred this quarter, it is noteworthy that ETH outperformed the S&P 500 index by 6,832 basis points in Q3 2026."

Against the backdrop of Bitmine continuously increasing its holdings in this asset, his remarks continued a series of bullish statements regarding Ethereum and the crypto market. In September, Lee stated that a crypto bull market had arrived, at which time the company purchased 27,562 ETH, bringing its holdings close to 5.98 million.

Bitmine indicates that Lee will release the Chairman's speech for October this week, titled “Crypto bull underway — this cycle likely the largest.”

He is scheduled to deliver a keynote speech at Token2049 in Singapore on October 7th.

Bitmine holds a total of $17.4 billion in encrypted assets, cash, and investments.

Ethereum accounts for the majority of Bitmine of the balance sheet, but the company also disclosed other holdings besides the ETH treasury.

As of October 4th, Bitmine holds 214 Bitcoins, $643 million in cash and tradable securities, a 180 million dollar stake in Beast Industries, and a $117 million position in Eightco Holdings. The total value of their crypto assets, cash, securities, and other investments amounts to $17.4 billion.

The company refers to its positions in Beast Industries and Eightco as “moonshots”.

Bitmine indicates that its Ethereum holdings make it the world's largest ETH treasury, and also the second-largest corporate crypto treasury in the world, only behind Strategy.

While purchasing crypto assets, Bitmine is also repurchasing its own shares. Lee indicates that the company repurchased 21 million shares of BMNR in the first nine months of 2026, which includes what he described as the largest-scale crypto treasury share repurchase to date.

The previous repurchases were carried out while continuing to increase holdings in ETH at the same time as Bitmine. By the end of July, the company had repurchased 6.1 million shares, and its Ethereum treasury consisted of 5,787,414 tokens.

Lee said that in the first nine months of 2026, BMNR fell by 3%, while during the same period, ETH fell by 10%. He described this as the company's stock outperforming Ethereum by 731 basis points.

As the treasury scale expands, the trading activity of BMNR has remained high. Bitmine cites data from Fundstrat stating that over the five trading days up to October 2nd, the company's average daily trading volume was 827 million US dollars, ranking it 125th among 5,704 US-listed stocks based on this metric.

On Monday, the trading price of ETH approached $2,711, with a daily increase of 0.37%. Over the past month, this cryptocurrency has risen by more than 10%, and over the past three months, its value has increased by over 50%.