Bitmine Surpasses 6 Million ETH Holdings, Closes in on 5% Target
Bitmine Immersion Technologies has reached a significant milestone in its Ethereum holdings strategy. The company announced that it has acquired 17,362 ETH over the past week, bringing its total holdings to over 6 million tokens for the first time.
The new purchase pushes Bitmine's ether treasury to 6,001,302 ETH, with a value of approximately $16.1 billion at current prices. This represents about 5% of Ethereum's circulating supply, putting the company 98% of the way towards its stated goal.
Chairman Tom Lee celebrated the achievement, noting that Bitmine has built this position in under 15 months. The company's ether stake also generates a significant revenue stream through staking operations, with over 5 million ETH currently staked at an annualized yield of 2.62%.