BitMine now holds 5.93 million ETH, worth roughly $14.8 billion, representing 4.9% of total supply and bringing it close to its 5% target.
ByJose Oramas
BitMine Immersion Technologies (BMNR) reported an Ethereum (ETH) treasury of 5,929,198 tokens and combined crypto, cash, and moonshot holdings of $15.7 billion as of September 7, in an 8-K filed September 8 that also disclosed the end of the outside agreement running its staking operations.
BitMine marked its ETH at $2,495 per token, per Coinbase, leaving the total little changed from the $15.6 billion it reported a week earlier, when the stash crossed 5.9 million tokens on a 53,501 ETH purchase. The company added 28,086 ETH over the past week and has bought Ether every week since the strategy began on June 30, 2025.
Those holdings equal 4.9% of the 122.0 million
Those holdings equal 4.9% of the 122.0 million ETH in supply, which BitMine puts at 97% of the way to its goal of owning 5% of all ETH, a target it calls the Alchemy of 5%.
Staking Fee Switches to Flat Rate
BMNR Subsidiary One and Ethereum Tower LLC signed a mutual termination agreement on September 4, ending a management services agreement from March 24 under which Ethereum Tower collected a revenue participation fee, a share of net staking revenue on company-owned ETH.
The original contract carried an initial ten-year term and let BitMine exit for convenience on 180 days’ notice, a period both sides waived. BitMine said it paid no material early termination penalties and that amounts accrued through September 3 remain payable.
A BitMine subsidiary then signed a new advisory
A BitMine subsidiary then signed a new advisory agreement with American Validator LLC, an affiliate of Ethereum Tower, effective September 4, for a flat fee of 1.50% of staking rewards on staked ether.
BitMine stakes 5,067,309 ETH, worth $12.6 billion at its mark and about 85% of the treasury, through MAVAN, the in-house Made in America Validator Network it built this year. Chairman Tom Lee put projected annualized staking revenue at $330 million, rising to $386 million once the ether is fully staked, at a 2.61% seven-day yield.
