Crypto
BitMine Accumulates 4.9% of Ethereum Supply Amid Ongoing Treasury Strategy
BitMine Immersion Technologies has acquired an additional 17,362 Ethereum (ETH) tokens during the week, bringing its total holdings to 6,001,302 ETH. This represents approximately 4.9% of the estimated 122.1 million ETH supply.
The company's treasury now values at roughly $16.2 billion, based on an ETH price of $2,698. Chairman Tom Lee said that BitMine has been buying ETH every week since launching its Ethereum treasury strategy on June 30, 2025, and believes institutions remain underexposed to crypto.
BitMine is also staking a significant portion of its ETH holdings, with approximately 84% of its total ether being staked. The company projected $358 million in annualized staking revenue at its current scale.