BitMine buys 17,362 ETH, holdings reach 6,001,302 tokens and 4.9% of supply

BitMine Immersion Technologies said on Sept. 28 that it bought 17,362 ETH during the week ending Sept. 27, lifting its holdings to 6,001,302 ETH as of 3 p.m. ET that day. The company valued the position at about $16.2 billion using a reference price of $2,698 per ETH, and said the holding equals roughly 4.9% of an estimated 122.1 million ETH in circulation. Crypto.News and Decrypt reported the same purchase and total; CoinGape reported the identical 6,001,302 figure. The buy was smaller than the 27,562 ETH added the previous week, as CryptoPotato and CoinGape both noted. BitMine said 5,067,309 ETH is staked, which Decrypt and Crypto.News put at 84% of holdings and CryptoPotato valued at $13.7 billion, while CoinGape put the same staked amount at nearly $14 billion. Staking runs through MAVAN, the Made in America Validator network BitMine launched in March and later opened to outside investors, plus outside partners. Chairman Tom Lee said BitMine has bought ETH every week since the strategy began on June 30, 2025, that the position was assembled in under 15 months, and that the company is 98% of the way to its 'Alchemy of 5%' target. Crypto.News, Decrypt, CryptoPotato and CoinGape all carry the 98% figure, though only Decrypt frames it as reached in 15 months. Decrypt put the wider treasury at $17.2 billion, listing 213 BTC, $672 million in cash and marketable securities, and equity stakes in Beast Industries ($180 million) and Eightco ($115 million). CryptoPotato, citing the release, said BitMine ranks second among crypto treasuries worldwide behind Strategy (MSTR), and reported that the staked count has been unchanged in every weekly update since Aug. 9 per BitMine SEC filings. Crypto News, published a day later via Invezz, said ETH traded around $2,670 during Asian hours on Tuesday while US spot ETH ETFs had a strong week of inflows, and that it remains below $2,700.