Bitmine's Ethereum Holdings Surge Past $11 Billion

Bitmine Immersion Technologies has significantly increased its Ethereum holdings to 5.815 million ETH, representing about 4.8% of the total supply.

This puts Bitmine's treasury at roughly $11 billion, making it the largest corporate Ethereum holder globally and the second-largest corporate crypto treasury overall, behind Strategy's $58 billion Bitcoin position.

The company achieved this by adding 9,926 ETH to its holdings over the past week, bringing it 96% of the way towards its goal of holding 5% of ether's circulating supply, or around 6 million tokens.

Of the total ETH held, over 5 million tokens are staked through the company's MAVAN platform and staking partners, valued at $9.6 billion, representing 87% of Bitmine's total holdings.