Bitmine kept its foot on the gas this week, adding 9,946 ETH to a pile that now tops 5.78 million coins. The company's total Ethereum holdings are worth over $11 billion, and it's now less than 0.2% away from its stated goal of owning 5% of the entire supply. The buying spree, which started on June 30, 2025, hasn't let up — even though Bitmine's average purchase price is nearly double the current market price.
The numbers behind the stack
Bitmine now holds 5,787,414 ETH. That's a lot of ether — roughly one out of every 20 coins in existence. The company bought more than 52,000 ETH in June 2025 alone, and the pace hasn't slowed. Chairman Tom Lee has been clear about the target: 5% of total supply. At the current rate, that milestone is days or weeks away.
The catch: Bitmine is sitting on a massive unrealized loss. Its average buy price is nearly twice where ETH trades today. That hasn't stopped the buying, and it hasn't stopped the staking.
Staking strategy and revenue
Bitmine has staked over 4.9 million ETH — about 85% of its holdings — through its platform MAVAN. The seven-day staking yield annualizes to 2.65%, which works out to roughly $254 million in yearly revenue. The company plans to stake its entire fortune, which would push that number to about $300 million annually.
That's a serious income stream, even if the paper losses are painful. Staking locks up the coins but generates yield in ETH, giving Bitmine a way to earn while it waits for prices to recover.
Tom Lee's take
Lee isn't shy about his bullishness. He's pointed to the strengthening ETH/BTC pair and recent technical momentum as reasons for optimism. Ethereum hit a two-month peak near $2,000 this week, surging 5% in a single day. But Lee sees two big hurdles ahead: $2,000 and $2,500. Break those, he says, and a major recovery could follow.
For now, Bitmine is betting big that the math works out. The company is buying at a discount to its average, staking for yield, and waiting for the market to turn.
With less than 0.2% of Ethereum's supply left to buy, Bitmine could hit its 5% target within weeks — assuming the buying pace holds. Meanwhile, the company is preparing to stake its entire stack, a move that would lock up billions in value and generate roughly $300 million in annual yield. The clock is ticking on both fronts.
