Tom Lee's Bitmine tops 6 million ETH after buying 17,362 ETH

Tom Lee-chaired Bitmine acquired 17,362 ETH, bringing its holdings to 6,001,302 ETH. The holdings were worth around $16.1 billion at current prices. Bitmine made the purchases since its last update on Sept. 21. Bitmine reported total crypto, cash, marketable securities and other investments of $17.2 billion on Monday. Bitmine did not disclose the average purchase price. The latest acquisition was worth around $46.7 million at current prices. As of Sept. 27, Bitmine held 213 BTC worth $17.8 million. Bitmine held a $115 million stake in Eightco Holdings. Bitmine held a $180 million stake in Beast Industries. Bitmine held $672 million in cash and marketable securities. Bitmine's ETH holdings represented more than 4.9% of Ethereum's approximately 122.1 million ETH circulating supply. Bitmine had reached 98% of its 5% supply target within 15 months of starting its Ethereum treasury strategy. Bitmine's total staked Ethereum stood at 5,067,309 ETH worth $13.6 billion. Lee said Bitmine had staked more ETH than any other entity in the world. Lee said that when MAVAN and its staking partners fully stake Bitmine's ETH, projected annualized staking rewards would be $424 million. Lee said annualized staking revenues were projected at $358 million. Lee said 5.1 million ETH represented 84% of Bitmine's 6.00 million ETH holdings. Lee said Bitmine's own staking operations generated an annualized 7-day yield of 2.62%. Lee said he saw signs that a crypto bull market was underway and had started in late June. Lee said institutions were still underweight crypto. Lee said he expected institutions to add to their crypto exposure in the final months of 2026. Lee said Ethereum was outperforming other macro assets by 6,728 basis points for the calendar quarter to date. SER data ranked Bitmine as the largest Ethereum treasury holder. SER data listed Joe Lubin's Sharplink with approximately 888,938 ETH. SER data listed The Ether Machine with approximately 496,712 ETH. Bitmine was the second-largest public crypto treasury company overall, behind Strategy. Strategy held 847,666 BTC worth $70.6 billion after its latest weekly acquisition, announced Monday. Strategy's holdings equaled over 4% of Bitcoin's 21 million supply cap.