- Bitmine added another 32,447 ETH over the past week, lifting its holdings to roughly 5.9 million ETH.
- The company now controls about 4.8% of Ethereum’s total supply, putting it 97% of the way toward its 5% target.
- More than 5 million ETH has been staked, with projected annualized staking revenue reaching $330 million.
Bitmine Immersion Technologies has moved closer to one of the largest corporate crypto accumulation targets ever, adding 32,447 ETH over the past week.
The company now holds approximately 5.9 million ETH, representing about 4.8% of Ethereum’s total supply. That puts Bitmine 97% of the way toward its stated goal of owning 5% of all ETH.
Bitmine Stakes More Than 5 Million ETH
Bitmine has staked more than 5 million ETH, representing around 87% of its Ethereum holdings and approximately $12.4 billion based on the company’s stated ETH price.
Its Made in America Validator Network, or MAVAN, is part of the company’s institutional Ethereum staking strategy. Bitmine reported a seven-day staking yield of 2.67%, with projected annualized staking revenue of roughly $330 million.
Tom Lee Sees More Upside for Ethereum
The latest purchase follows a strong recovery across crypto markets, with Ethereum gaining more than 30% last week.
Bitmine Chairman Tom Lee believes Ethereum could have further room to run. He pointed to the rising ETH/BTC ratio and argued that greater Ethereum usage could be driven by Wall Street tokenization and AI agents using blockchain infrastructure.
Lee also noted that previous crypto cycles were powered by major Ethereum use cases including ICOs, NFTs and stablecoins.
Bitmine’s Holdings Reach $14.9 Billion
Bitmine now reports $14.9 billion in total crypto, cash, marketable securities and other investments.
Alongside its massive ETH position, the company holds 210 BTC, $308 million in cash and marketable securities, a $180 million stake in Beast Industries and an $89 million investment in Eightco Holdings.
With Bitmine now just short of its 5% Ethereum supply target, its next purchases could push the company across the milestone.
