- Bitmine added 27,562 ETH worth roughly $74 million, raising holdings to 5,983,940 ETH — about $16.1 billion at a $2,688 reference price, or 4.9% of Ethereum's 122.1 million token supply. The company says it is 98% of the way to its stated "Alchemy of 5%" goal of controlling 5% of the network.
- The buy extends an unbroken weekly purchase streak that began when Bitmine launched its treasury strategy on June 30, 2025. Bitmine remains the largest Ethereum treasury and the second-largest crypto treasury overall, trailing only Michael Saylor's Strategy.
- Chairman Tom Lee said a crypto bull market has been underway since late June, driven by rotation out of AI stocks back into crypto, strengthening tokenization fundamentals, and the end of the four-year cycle. He called Ethereum the best-performing macro asset of the quarter and framed its 6,519 basis point outperformance of the S&P 500 as a prelude to a stronger Q4 as institutions add exposure.
- Bitmine's total holdings, including cash and "moonshot" investments, reached $17.1 billion, comprising 212 bitcoin, $714 million in cash and marketable securities, a $180 million stake in Beast Industries and a $105 million position in Eightco Holdings. Staking income continues: 5,067,309 ETH, about 85% of holdings, is staked through its MAVAN platform for projected annualized revenue of roughly $357 million.
- The treasury buying wave is broad: bitcoin topped $85,000 over the weekend as more than $648 million in shorts were liquidated, and Strategy pushed its bitcoin pile back toward a June record with a $76 million purchase.
Quotes
“a crypto bull market has been underway since late June”
“Ethereum has been the best-performing macro asset this quarter, outpacing the S&P 500 by 6,519 basis points”
“Bitmine remains the world's largest Ethereum treasury and the second-largest crypto treasury overall, trailing only Michael Saylor's Strategy.”