Crypto
BitMine's Ethereum Holdings Surge 32,447 Tokens Amid Price Gains
BitMine's Ethereum treasury expanded by 32,447 tokens in the past week, pushing its total holdings to 5,847,611 ETH. This represents about 4.8% of Ethereum's supply.
The company staked 5,067,309 ETH, projecting $330 million in annualized revenue from this position.
BitMine Chairman Thomas Lee described the Ether price increase as the largest weekly gain since May 2025, with a 30% weekly rise. He attributed this to improved crypto fundamentals and easing financial conditions.
The company's Ethereum holding is valued at $14.27 billion using a Coinbase reference price of $2,440 per ETH. BitMine also holds other assets, including 210 Bitcoin and investments in Beast Industries and Eightco Holdings.