BitMine has expanded its Ethereum holdings to 6,028,946 ETH, worth approximately $15.3 billion, taking its total stake to 4.9% of the network's 122.1 million circulating token supply.
The update, published on October 12, 2026, details the firm's overall digital asset and equity positions valued at $16.2 billion. Alongside its main holdings, BitMine holds 214 Bitcoin (BTC), a $180 million stake in Beast Industries, and $85 million in Eightco Holdings.
Staking Yields and Treasury Purchasing Cap
Out of its total reserve, BitMine has currently staked 5,067,309 ETH—representing 84% of its tokens—via its MAVAN platform and strategic partners. Based on a 2.61% seven-day yield, the company forecasts $336 million in annualized staking revenue, which it expects to reach $400 million once all holdings are fully staked.
BitMine Chairman Tom Lee clarified on October 7 that the firm will halt its acquisition program once it reaches 5% of Ethereum's circulating supply. Although the accumulation campaign was originally structured as a five-year plan, the company has almost met its target within approximately one year.
Key figures from BitMine's treasury update include:
- Ethereum Treasury: 6,028,946 ETH (priced at $2,544 per token at reporting time).
- Staking Revenue: 5,067,309 ETH generating $336 million annually.
- Other Holdings: 214 BTC, $180 million in Beast Industries, and $85 million in Eightco Holdings.
- Cap Limit: Purchases will cease upon reaching the 5.0% supply threshold.
Asset Outperformance and Equity Trends
At disclosure time, ETH was trading around $2,517, registering a 0.67% advance over 24 hours with a market capitalization near $308 billion. During the third quarter, ETH beat the S&P 500 index by 6,832 basis points, despite broader macroeconomic tightening and elevated central bank interest rates. While exchange transfers such as recent Ethereum Foundation wallet moves add market supply, institutional accumulation has locked up substantial floating supply.
BitMine's equity (NYSE: BMNR) also outperformed the underlying crypto asset during market pullbacks. Over the first nine months of 2026, ETH dropped 10%, while BMNR declined 3%, representing a 731 basis point outperformance by the stock.
Why It Matters
BitMine's massive treasury accumulation proves that corporate entities can lock up substantial portions of circulating supply even during prolonged market downturns. By staking 84% of its balance sheet through MAVAN, BitMine converts passive corporate crypto reserves into a high-yield asset producing hundreds of millions in recurring revenue. Investors should now watch whether the company adheres strictly to its 5% threshold and how market liquidity responds when primary treasury buying stops.
