Bitmine Buys $68 Million in Ethereum to Reach 4.9% of Total Supply

Bitmine Immersion Technologies (NYSE: BMNR) purchased an additional 27,180 Ethereum tokens over the past week for approximately $68 million, pushing its total holdings to 5,956,378 ETH and bringing the company to 98% of its stated goal of owning 5% of Ethereum's 122 million-token circulating supply. At ETH's trading price of roughly $2,500 to $2,513, the stake is worth approximately $14.97 billion to $15 billion, making Bitmine the largest Ethereum treasury company in the world.

The company has staked 5,067,309 ETH, about 85% of its holdings, generating a 7-day annualized yield of 2.62% and projected annualized staking revenue of $334 million. Beyond Ethereum, Bitmine holds 212 Bitcoin, a $180 million stake in Beast Industries, a $98 million stake in Eightco Holdings, and $549 million in cash and marketable securities, bringing total combined holdings to approximately $15.8 billion.

Chairman Tom Lee flagged a new ETH/BTC uptrend breaking out for the first time since the COVID-era highs, signaling his expectation of a significant move ahead. More than 197 public companies have now adopted similar digital asset treasury models, reflecting the broader corporate embrace of crypto holdings that Bitmine has been at the forefront of.