Bitmine Expands Ethereum Holdings to 5.54 Million ETH
- Bitmine Immersion Technologies has increased its Ether holdings to 5.54 million ETH, representing 4.59% of Ethereum’s total supply.
- The company acquired nearly 127,000 ETH in the past week, nearing its goal of 5% of the total supply through its “Alchemy of 5%” strategy.
- Approximately 4.72 million ETH, or about 85% of its holdings, are currently staked, valued at around $7.7 billion.
- Bitmine projects an annualized staking revenue of $230 million, potentially rising to $270 million if fully staked.
- Despite a challenging year for Ether, which is down over 43%, Bitmine shares rose more than 6%.
As Bitmine continues to accumulate Ether, it remains the largest holder among public companies, with its holdings significantly surpassing competitors like SharpLink, which holds only 868,699 ETH. The global crypto market cap is currently at $2.19 trillion, down from a peak of $2.69 trillion.
With Bitmine now holding over 5 million ETH, its treasury positions it as a key player in the Ethereum ecosystem amid ongoing market volatility and price pressures on the cryptocurrency.(Source)
