Bitmine's Ether Holdings Reach 5.54M ETH After Latest Purchase

Bitmine Immersion Technologies raised its Ether treasury to about 5.54 million ETH after buying nearly 127,000 tokens over the past week, bringing its stake to 4.59% of Ethereum’s total supply. The company said this marks 92% completion of its “Alchemy of 5%” goal.

About 4.72 million ETH, roughly 85% of Bitmine’s holdings, are staked through its validator infrastructure and partners, valued around $7.7 billion at current prices. Management projected $230 million in annualized staking revenue from the current staked position, rising to about $270 million if the remainder is fully staked through MAVAN and other partners.

As of June 7, Bitmine held 5,543,872 ETH, 204 Bitcoin, $247 million in cash, and equity stakes in Beast Industries and Eightco Holdings. Ether’s price has struggled this year, trading near $1,685 and down more than 43% year-to-date from above $3,000 in January.

bitmine, ether, eth, ethereum, staking, validators, mavan, staking revenue, ether price, bitcoin