Bitmine Holds 5.54M ETH, Reaching 4.59% of Ethereum Supply as it Approaches 5% Target

ETH10.97%
As of June 7, Bitmine Immersion Technologies held 5.54 million ETH, representing 4.59% of Ethereum's 120.7 million total supply and bringing the company within striking distance of its 5% ownership target. The company purchased 126,971 ETH over the past week as part of its "Alchemy of 5%" strategy. Approximately 4.72 million ETH is currently staked, with Bitmine projecting annualized staking revenue of up to $270 million based on current activity and potential future staking expansion.
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