BitMine Immersion Technologies has crossed a milestone no other company has reached. After buying another 17,362 ETH last week, the company now holds more than 6 million ETH, according to its company update on September 28, reported by The Block.
The numbers
As of September 27, BitMine said it held:
Altogether, BitMine put its crypto, cash and other holdings at about $17.2 billion, valuing ETH at $2,698 per token.
A buyer that never stops
What stands out most is consistency. BitMine says it has added ETH every single week since launching its Ethereum treasury strategy on June 30, 2025. Going from zero to 6 million ETH in under 15 months makes it by far the largest corporate holder of Ethereum.
It's the Ethereum version of what Strategy has done with Bitcoin: keep buying through good weeks and bad, and treat the token as a long-term reserve.
Why staking matters
Most of BitMine's ETH isn't just sitting idle. Around 5 million tokens are staked, meaning they help secure the Ethereum network and earn rewards in return. That gives BitMine a steady income stream from its holdings, something Bitcoin treasury companies can't do in the same way.
Why it matters
A single company owning nearly 5% of all ETH is significant. Supporters see it as a strong vote of confidence and a steady source of demand. Critics point to the risks of concentration: if a holder that large ever needed to sell, it could weigh heavily on the price.
The bottom line
BitMine has passed 6 million ETH, about one in every twenty ETH in existence, and shows no sign of slowing down. For Ethereum, it's one of the clearest signs yet of big-company appetite for the network.
This article is for information only and is not financial advice. Figures are as reported by BitMine as of September 27, 2026.
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