BitMine Nears 5% Ethereum Target with Growing Holdings

BitMine Immersion Technologies has updated its Ethereum holdings to 5.79 million ETH as of July 26, after buying another 9,946 tokens during the week.

The company's total Ethereum holdings represent about 4.8% of the cryptocurrency's reported circulating supply.

BitMine has staked over 4.9 million ETH through its Made in America Validator Network and other partners, which is expected to generate $254 million in annualised revenue based on a seven-day yield of 2.65%.

The company repurchased 6.1 million common shares during the latest week under its $4 billion buyback programme.