Bitmine Immersion Technologies said on October 5, 2026, that it acquired 15,112 ETH over the previous week, bringing its reported holdings to 6,016,414 ETH. Chairman Tom Lee’s claim that ether was “dwarfing other macro assets” refers to the company’s assertion that ETH outperformed the S&P 500 by 6,832 basis points in the third quarter; the release does not provide calculation details to independently verify that comparison.
What Bitmine announced
In its October 5, 2026 announcement, Bitmine said it bought 15,112 ETH during the preceding week. The company reported a balance of 6,016,414 ETH as of October 4 at 6:30 p.m. ET.
Bitmine valued the ETH at $2,726 per coin, or roughly $16.4 billion, and said the balance equaled 4.9% of a total ETH supply of 122.1 million. These are company-reported figures tied to that dated snapshot, not live values.
What Lee meant by “dwarfing other macro assets”
Lee was referring to Bitmine’s claim that ETH outperformed the S&P 500 by 6,832 basis points in Q3 2026. A basis point is one-hundredth of a percentage point, so the stated difference is 68.32 percentage points. That is a relative-performance gap, not a claim that ETH rose by 68.32%.
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Lee said in Bitmine’s release: “The outperformance of ETH by 6,832bp relative to the S&P 500 in 3Q26 is notable considering the substantial macro headwinds that emerged in the quarter including a ‘hawkish’ Fed, surging oil, rise in global bond yields and general tightening of financial conditions. Quarter to date, ETH is outperforming by 6,832bp, dwarfing other macro assets.”
The company’s release does not include the price series, start and end points, or calculation method behind the 6,832-basis-point comparison. It should therefore be read as an attributed statement by Lee and Bitmine, rather than an independently reproducible performance calculation. ETH’s market price can also move sharply, so past relative performance does not establish what it will do next.
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How much Bitmine says it has staked
Bitmine reported that 5,067,309 ETH was staked, which it described as 84% of its ETH holdings. The company projected $363 million in annualized staking revenue, using a seven-day annualized yield of 2.63%. The revenue figure is a projection based on that yield, not a report of revenue already earned or a guaranteed recurring amount.
Bitmine also described plans to expand its institutional staking infrastructure, MAVAN. The announcement’s forward-looking statements caution that plans, projections, future acquisitions and performance expectations are subject to risks. The release names digital-asset price volatility, operational risks and regulatory changes among those risks.
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What the $17.4 billion figure includes
Bitmine reported approximately $17.4 billion across its crypto, cash, marketable securities and “moonshots” categories. That total was not just the value of its ETH: the company also listed 214 BTC, stakes in Beast Industries and Eightco Holdings, and $643 million in cash and marketable securities.
For personal-finance readers, a corporate treasury position is not the same as owning ETH directly. Bitmine’s reported totals and staking figures describe the company’s assets and operations; they do not indicate a return available to individual investors or remove the price and other risks of holding a volatile digital asset.
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