BitMine Surpasses $11 Billion in Crypto Holdings Following Massive Ethereum Purchase

BitMine Immersion Technologies has significantly expanded its Ethereum holdings by purchasing an additional 9,946 ETH, bringing its total to 5,787,414 ETH. This move marks a notable milestone in the company's treasury strategy, which aims to own 5% of Ethereum's circulating supply.

According to recent data, BitMine's current holdings represent approximately 4.8% of the estimated 120.7 million ETH currently in circulation, making it the world's largest corporate Ethereum treasury. The company has also staked a significant portion of its Ethereum portfolio, with 85% of its 5.79 million ETH locked through its validator infrastructure.

The staking revenue is projected to be around $254 million annually, with potential rewards rising to nearly $299 million once its holdings are fully deployed through the Made in America Validator Network (MAVAN) platform and external staking partners.