Bitmine Stakes Claim on Ethereum Staking Revenue
Bitmine Immersion Technologies has significantly increased its Ethereum holdings to nearly 6 million ETH and is now positioning a large portion of that stack to earn staking yield. The company's Ether holdings are valued at roughly $15.4 billion, which accounts for about 4.9% of Ether's circulating supply.
In a recent announcement, Bitmine disclosed the purchase of 27,180 ETH during the prior week, bringing its total Ether holdings to over 5.95 million ETH. The company also pegged potential annualized staking revenue in the hundreds of millions of dollars, which underscores how some crypto-focused public companies are moving from 'hold-and-hope' balance sheets toward cash-flow-like strategies.
About 85% of Bitmine's Ether is now staked, meaning a majority of the treasury is earning network rewards rather than sitting idle. This approach aims to smooth returns across market cycles: even when price volatility hits the value of holdings, staking yield can still continue to accrue.