Bitmine nears 5% ETH supply, eyes $400M staking revenue
6.8 Investments Bitmine added 12,532 ETH, raising its holdings to 6,028,946 ETH (4.9% of supply), with 84% staked. The company nears its 5% supply cap and projects up to $400M in annual staking revenue.
Bitmine Immersion Technologies increased its Ethereum holdings by 12,532 ETH last week, bringing its total to 6,028,946 ETH. This represents 4.9% of Ethereum’s 122.1 million token supply. At a price of $2,544 per ETH, these holdings are valued at approximately $15.3 billion. Of this total, 5,067,309 ETH—worth $12.9 billion—are staked through Bitmine’s MAVAN platform and partners, accounting for 84% of its ETH balance. Bitmine projects annualized staking revenues of $336 million at the current level, with expectations to reach $400 million once all ETH is staked. The company’s total crypto, cash, and other investments amount to $16.2 billion. Bitmine plans to halt ETH purchases upon reaching a 5% supply cap, which could occur in six to seven weeks at the current pace. Leadership remains optimistic about Ethereum’s outlook, citing tokenization, wealth transfer, digital asset treasuries, and crypto’s integration with AI as key growth drivers.
