Bitmine Immersion Technologies Boasts $11.4B in Crypto Holdings

Bitmine Immersion Technologies has reported its crypto and cash holdings of $11.4 billion, including 5.82 million ETH and $78 million in cash and marketable securities.

The company holds approximately 4.8% of the total 120.7 million ETH supply, valued at around $1,893 each, totaling $11.4B in crypto plus cash and other investments.

Of its ETH holdings, a significant portion has been staked, with 5.067 billion ETH valued at $9.6 billion, earning an annualized yield of 2.61% over the past seven days.

The company projects annualized staking revenues to reach around $250 million and potentially increase to $287 million if all its ETH is fully staked by MAVAN and partners.