Bitmine Surpasses 4.9% of Ethereum Supply with 5.96M ETH Holdings

Bitmine Immersion Technologies, listed on the NYSE as BMNR, has reached a significant milestone in its Ethereum holdings. As of September 13th, the company's treasury now contains 5,956,378 ETH, representing 4.9% of the network's total supply of 122 million ETH. This achievement comes after acquiring 27,180 ETH over the preceding week, bringing its combined crypto, cash, and marketable securities holdings to $15.8 billion.

According to Chairman Thomas 'Tom' Lee, the value of Bitmine's ETH position is currently priced at $2,513 per coin using Coinbase pricing. The company also reported holding 212 Bitcoin, a stake in Beast Industries valued at $180 million, and a stake in Eightco Holdings (NASDAQ: ORBS) worth $98 million.

Bitmine's Ethereum treasury is now the largest among corporate crypto holders, second only to Strategy. About 5,067,309 ETH, or $12.7 billion, is staked through MAVAN, the company's Made in America Validator Network, representing 85% of the treasury. Bitmine projects annualized staking revenues of roughly $334 million, rising to $392 million once the full treasury is staked.