Bitmine expands Ethereum treasury as holdings reach 6.04 million ETH

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Bitmine expands Ethereum treasury

Highlights

Bitmine Immersion Technologies increased its Ethereum treasury to 6,041,481 ETH, worth $14.3 billion as of Oct. 18, representing 4.9% of Ethereum's circulating supply.
Bitmine has staked 5,067,309 ETH valued at $12 billion via its MAVAN platform, generating annualized staking income of $309 million, projected to rise to $369 million if fully staked.
Bitmine's combined holdings, including 215 bitcoin, $180 million in Beast Industries, $74 million in Eightco Holdings, and $582 million in cash and marketable securities, total $15.1 billion.

Ethereum treasury expansion and staking income

As reported by The Block, citing Bitmine Immersion Technologies in a statement on Monday, the company raises its Ethereum treasury to 6,041,481 ETH after acquiring 12,535 ETH over the past week. At $2,365 per ETH, those holdings are worth about $14.3 billion as of Oct. 18, and Bitmine says they account for 4.9% of Ethereum's circulating supply of 122.1 million tokens.

Of the total ETH balance, 5,067,309 tokens, valued at $12 billion, are staked through Bitmine's MAVAN platform and staking partners, representing 84% of the company's holdings. Bitmine projects annualized staking revenue of $309 million at current levels, with that figure rising to $369 million once the full holding is staked.

Broader balance sheet and crypto market pressure

Beyond ether, the company reports holdings of 215 bitcoin, a $180 million stake in Beast Industries, a $74 million investment in Eightco Holdings, and $582 million in cash and marketable securities. Bitmine says its combined crypto, cash, marketable securities, and other investments total $15.1 billion.

Chairman Tom Lee says recent pressure on crypto markets comes from investors reducing risk exposure amid geopolitical tensions, rising bond yields, and concerns over AI funding and model safety. He says crypto is widely held in the U.S., Korea, and Taiwan, creating spillover pressure in digital asset markets when investors in those regions pull back.

Ether trades above $2,400 on Monday, up 0.43% over 24 hours, according to The Block's ETH price page.

In our earlier article on rising long-term U.S. Treasury yields and widening deficits, we explained how higher borrowing costs are squeezing households and the federal budget, with policy gridlock limiting the odds of near-term fiscal relief. We also noted that intense competition for capital—including large funding needs tied to AI infrastructure—can tighten overall financial conditions and amplify pressure across markets.

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