BitMine nears 5% Ethereum supply, holdings reach $17.1B
7.2 Investments BitMine now holds 5,983,940 ETH—about 4.9% of Ethereum’s supply—with total crypto and cash holdings at $17.1 billion. Over 5 million ETH are staked, generating $357 million annually.
BitMine Immersion Technologies (BMNR) has announced its Ethereum (ETH) holdings have reached 5,983,940 ETH, representing approximately 4.9% of Ethereum’s total supply of 122.1 million tokens. In the past week, the company acquired an additional 27,562 ETH. Over 5 million of BitMine’s ETH tokens are staked, generating an estimated $357 million in annualized staking revenue. The company also holds 212 Bitcoin, $714 million in cash and marketable securities, and strategic investments in firms like Beast Industries and Eightco Holdings. Altogether, BitMine’s total cryptocurrency and cash holdings now amount to $17.1 billion. The company’s stock rose about 6% to $27.30 as digital asset markets rallied. BitMine reports it has achieved 98% of its goal to own 5% of Ethereum’s supply, though the benchmark supply figure has increased recently, making the target more challenging. The company’s valuation remains closely tied to Ethereum price movements, presenting downside risk if ETH declines.
