Bitmine Reaches 5.96 Million ETH Holdings, Totaling $15.8 Billion in Value
Bitmine Immersion Technologies has announced its Ethereum holdings have reached 5.96 million tokens, accounting for 4.9% of the total ETH coin supply. The company's crypto and cash holdings now total $15.8 billion.
As reported by Tom Lee, Chairman of Bitmine, the price ratio of ETH to BTC has moved to its highest level since January 30th this year and established a new uptrend. This trend is attributed to Ethereum's strengthened position as the settlement rails for Wall Street tokenization and the increased realization that it may play a critical central role in managing agentic-AI.
Bitmine remains supported by a premier group of institutional investors, including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital and personal investor Thomas 'Tom' Lee. The company has also launched MAVAN (the Made in America VAlidator Network), an institutional-grade staking platform that supports Ethereum treasury management.
As of September 7th, Bitmine's total staked ETH stands at 5,067,309, with projected annualized staking revenues of $334 million. Tom Lee expects late August's sharp one-day rally to be a likely preview of the pending advance in ETH prices, predicting that institutions will add to their crypto holdings given the substantial outperformance of crypto versus other macro assets.