BitMine tops 6,001,302 ETH after 17,362 weekly buy near Alchemy of 5%
By Satoshi’s Wire
September 28, 2026
BitMine Immersion Technologies (NYSE: BMNR) just printed the round number corporate ETH desks have been counting toward. In a Monday holdings update covered by The Block about 9:39 a.m. EDT (13:39 UTC) September 28—and mirrored in BitMine’s company statement—the Tom Lee–chaired Ethereum treasury says it now holds 6,001,302 ETH after buying another 17,362 ETH since its September 21 update. As of 3:00 p.m. ET September 27, that stack is marked at $2,698 per ETH on Coinbase, putting the ether book near $16.1 billion and total crypto, cash, marketable securities, and “moonshot” holdings at $17.2 billion. This is a new Ape Index chapter after the desk’s September 22 LN (9551), which closed at 5,983,940 ETH on a 27,562 ETH weekly clip—not a silent edit of that URL.
What changed on the tape. The fresh weekly lot is smaller than last week’s 27,562 ETH print in 9551, and secondary covers including Unchained flag it as BitMine’s smallest weekly purchase since its August 17 update. Even so, the balance crossed six million tokens for the first time. Chairman Tom Lee called the milestone “a tremendous achievement, accumulating this total in under 15 months,” and said BitMine has bought ETH every week since the treasury strategy launched on June 30, 2025. The company did not disclose an average fill price; The Block marks the latest 17,362 ETH clip at roughly $46.7 million at then-current prices.
Alchemy of 5% math, restated. BitMine still frames the campaign as owning 5% of Ethereum supply. Against the 122.1 million ETH circulating figure it cites, 6,001,302 ETH is about 4.9% of supply and 98% of the way to Alchemy of 5%—the same percentage progress the desk logged in 9551, but now with a six-million headline and a smaller remaining gap. At that denominator, 5% sits near 6.105 million ETH, leaving roughly 103,700–104,000 ETH still to buy if supply holds still. Those remaining tokens are company arithmetic against a moving supply denominator, not a guaranteed purchase schedule.
Staking and the rest of the balance sheet. BitMine reports 5,067,309 ETH staked—about 84% of the 6.00 million ETH treasury and still the same absolute stake figure the desk carried in 9551—valued near $13.6–$13.7 billion at the $2,698 Coinbase mark. Using a 2.62% seven-day annualized yield from its own staking ops, management projects about $358 million in annualized staking revenue at the current stake level, rising to about $424 million if the full ETH book were staked through MAVAN and partner validators. Those are BitMine projections, not audited cash flows. Non-ETH holdings in the same update: 213 BTC (~$17.8 million), a $180 million stake in Beast Industries, a $115 million stake in Eightco Holdings (NASDAQ: ORBS), and $672 million in cash and marketable securities.
Where BitMine sits versus peers, per The Block’s SER-sourced stack. BitMine remains the largest public Ethereum treasury, ahead of Joe Lubin’s Sharplink (~888,938 ETH) and The Ether Machine (~496,712 ETH). Among public crypto treasuries overall, The Block still ranks it second behind Strategy’s bitcoin pile—847,666 BTC (~$70.6 billion) in The Block’s Monday wrap—so the six-million ETH print is an ETH-treasury milestone, not a claim that BitMine overtook Strategy on total crypto AUM. Lee also used the release to argue a crypto bull market has been underway since late June and that ETH has outperformed other macro assets by 6,728 basis points quarter-to-date; attribute those as management views.
Why this unused LN over watchlist calendars. Bitget’s ETH withdrawal reopen remains a September 29 calendar item after Chen’s test-transfer interview (9980)—no primary confirming an early ETH reopen on this tick. Alpenglow’s mainnet genesis cert is still null after 9912. THORChain / ZachXBT trail chapters (9939, 9969, 9976) already carried today’s fund-hop facts. The clean unused wire is BitMine’s first six-million ETH print—new absolute balance, smaller weekly lot, restated $17.2 billion aggregate holdings—linking prior chapter 9551 rather than rehashing the September 22 27,562 ETH / 5,983,940 ETH close.
What collectors should watch next—without inventing it. Follow-on facts that would matter: the next weekly buy size (return above 27,000 ETH or another slowdown), any change in the 5,067,309 staked total, a revised supply denominator that moves the Alchemy finish line, or an official announce that Alchemy of 5% has been hit. Until then, stick to the Monday numbers: 6,001,302 ETH held, 17,362 weekly add, 4.9% of a 122.1 million supply, 98% of Alchemy, staked 5,067,309 ETH, projected staking $358 million / $424 million at full deployment, aggregate holdings $17.2 billion. Do not invent that BitMine already owns 5% of ETH, that staking revenue is booked cash, or that the desk independently verified on-chain wallet inventories beyond the company / The Block figures.
Bottom line: BitMine Immersion tops 6,001,302 ETH after a 17,362 weekly buy—about 4.9% of supply and still 98% of Alchemy of 5%—with staked ether at 5,067,309 and aggregate holdings at $17.2 billion, Ape Index tape after 9551.
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