Bitmine Immersion Technologies, a public company focused on blockchain infrastructure and digital asset management, has now accumulated more than 6 million ETH in its treasury. The company added 17,362 Ether during the week ended September 27, according to its latest disclosure, bringing the total to exactly 6,001,302 tokens.

Strategic Accumulation Strategy

The purchase continues a consistent weekly buying program that began on June 30, 2025. Bitmine has completed 69 consecutive weeks of acquisitions since launching its ETH treasury initiative, making it the most frequent weekly buyer of the asset among publicly traded companies.

Management describes the effort as the “Alchemy of 5 percent,” a long-term plan to own 5 percent of Ethereum’s total supply. At the current price of $2,698 per token, the latest addition was worth approximately $46.8 million.

Overall crypto, cash, marketable securities and other investments now total $17.2 billion. That figure includes the ETH position valued at roughly $16.2 billion, 213 Bitcoin, the equity stakes and $672 million in cash and liquid securities.

Staking Operations and Yield

Bitmine has staked 5,067,309 ETH, representing 84 percent of its total holdings. Using its reference price, the staked amount is worth about $13.7 billion. The company reports a seven-day annualized yield of 2.62 percent from its staking operations.

Management projects annualized staking revenue of $358 million based on current holdings and yield. If the entire ETH treasury were staked through its MAVAN platform and partners, the projected annual reward would reach approximately $424 million.

MAVAN, launched earlier this year, provides institutional-grade staking and validation services. Bitmine originally built the network to support its own treasury but now offers it to external investors, custodians and ecosystem participants.

Institutional Backing and Market Context

The company’s treasury growth has drawn support from major institutional investors, including ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, DCG, Galaxy Digital and others. Bitmine’s shares have also entered the Russell 1000 index, and its preferred stock trades on the NYSE under the symbol BMNP.

ETH has outperformed the S&P 500 by 6,728 basis points through the third quarter, according to Bitmine’s disclosures. Chairman Tom Lee has highlighted the asset’s performance as evidence of strengthening institutional interest in crypto.

Lee is scheduled to deliver the keynote address at Korea Blockchain Week in Seoul on September 30.

Market Position

Bitmine claims the largest ETH treasury among public companies and ranks as the second-largest overall crypto treasury behind a leading Bitcoin holder. The company’s strategy blends long-term asset accumulation with yield-generating operations in staking and validation.

Management notes that Ethereum continues to outperform other macro assets, reinforcing the case for sustained institutional allocation in the coming months.