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      BitMine Expands Ethereum Holdings to Nearly 6 Million Amid Crypto Market Surge

      BitMine has increased its Ethereum holdings by 27,562 units over the past week, bringing its total to approximately 5,983,940 ETH as of September 20, 2026. This amount represents about 4.9% of the total Ethereum supply. The company's overall assets, including cryptocurrencies, cash, and other investments, are valued at around $17.1 billion, which includes $714 million in cash and securities, 212 Bitcoin, and significant equity stakes in Beast Industries and Eightco Holdings.

      The company has staked 5,067,309 ETH, which constitutes 85% of its total holdings, valued at approximately $13.6 billion. This staking is generating an annualized yield of about $357 million. BitMine's Chairman, Tom Lee, noted in a recent report that the current crypto bull market, which began in late June 2026, is fueled by a shift of funds from AI stocks to cryptocurrencies and strengthening fundamentals in the crypto sector.

      Lee highlighted that Ethereum has significantly outperformed the S&P 500 by over 6,519 basis points in the third quarter, establishing it as the top macro asset globally. He anticipates that this trend will continue into the fourth quarter, as institutional investors are expected to increase their allocations to crypto assets, influenced by the performance of AI stocks earlier this year. Lee is scheduled to deliver a keynote speech at the Korea Blockchain Week on September 30, 2026.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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