Bitmine nears 5% Ethereum supply with 6.07M ETH, $14.3B assets
6.8 Investments Bitmine Immersion Technologies now holds 6.07M ETH (4.97% of supply) and $14.3B in assets. Most ETH is staked, and the company is close to its 5% supply target.
Bitmine Immersion Technologies has announced that its Ethereum holdings have reached 6,070,092 ETH, representing 4.97% of the total ETH supply of 122.2 million. In the latest week, the company added 9,587 ETH, bringing it to 99% of its goal to own 5% of the total ETH supply. Of its holdings, 5,227,037 ETH are staked, valued at $11.7 billion based on a reference price of $2,234 per ETH. If fully delegated, projected annual staking rewards could reach up to $359 million. Bitmine’s total assets, including digital assets, cash, marketable securities, and investments in Beast Industries and Eightco Holdings, amount to $14.3 billion. The company also holds 216 BTC, $180 million in Beast Industries, $75 million in Eightco, and $475 million in cash and securities. Bitmine describes itself as the world’s largest Ethereum treasury and the second-largest crypto treasury overall. Its accumulation strategy is supported by institutional investors, and its Series A Preferred Stock trades on the NYSE under the symbol BMNP.
