Bitmine grew its ether holdings by 52,203 ETH last week, putting the firm 94% of the way to its goal of holding 5% of Ethereum's supply.
Ethereum News
Bitmine Immersion Technologies (BMNR) added 52,203 ETH to its treasury last week, the company said Monday. The purchase brings its totalEthereum (ETH) holdings to 5,672,956 tokens, equal to about 4.7% of Ether's total supply.
At a price of $1,733 per ETH, the holdings are worth roughly $9.8 billion. That makes Bitmine the largest corporate holder of Ether in the world. It ranks as the second-largest corporate crypto treasury overall, behind only Strategy's $54 billion Bitcoin position.
Ether Treasury Grows to 5.67 Million Tokens
The latest purchase puts Bitmine 94% of the way toward what it calls its "alchemy of 5%" target, a plan to hold 5% of Ether's 120.7 million-token supply. Including cash, marketable securities, and stakes in other companies, Bitmine's total assets reached $10.7 billion as of June 21.
Those outside holdings include 205 BTC, a $180 million stake in Beast Industries, and a $104 million stake in Eightco Holdings. The company also holds $601 million in cash and marketable securities.
Tom Lee Points to Staking Income and Crypto Outlook
Bitmine has staked more than 4.7 million ETH, or over 83% of its total holdings, through its Made in America Validator Network. The company said its staking operations are currently producing a 2.73% seven-day yield, with projected annualized revenue of about $223 million. That figure rises to roughly $268 million once the full treasury is staked.
Chairman Tom Lee said the company plans to keep accumulating Ether steadily through 2026. "The best years for crypto remain ahead, in our view," Lee said, adding that tokenization and progress in artificial intelligence should drive demand for blockchain networks.
Related Article:Bitmine Buys 125K ETH in 3 Days With $9.9B in Losses
Bitmine's preferred stock, BMNP, began trading on the New York Stock Exchange last week after the company raised about $274 million through the offering. The stock opened at $85 per share and recently traded near $88.34. Ether itself traded at roughly $1,750 on Monday, up 2.26% over the prior 24 hours. It is still about 64% below its all-time high of $4,946.05 set in August 2025.
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