Bitmine's Ethereum Holdings Reach 5.79 Million Tokens, Total Holdings Exceed $11.8 Billion

Bitmine Immersion Technologies (BMNR) has announced that its Ethereum holdings have reached 5.79 million tokens, accounting for 4.8% of the total ETH coin supply of 120.7 million.

The company's total crypto and cash holdings now stand at $11.8 billion, with a significant portion staked on the MAVAN (Made in America VAlidator Network) platform.

According to Thomas 'Tom' Lee, Chairman of Bitmine, the company has repurchased 6.1 million shares of common stock in the past week under its $4 billion share repurchase program.

Bitmine's ETH holdings are now valued at approximately $9.6 billion, with a projected annualized staking reward of $299 million when fully staked by MAVAN and its partners.