Bitmine Immersion Technologies increased its Ethereum holdings to 5.54 million ETH as of 7 June, representing approximately 4.59% of the network's 120.7 million ETH total supply. The company purchased 126,971 ETH over the past week as part of its "Alchemy of 5%" strategy aimed at acquiring 5% of Ethereum's circulating supply. Bitmine now ranks as the largest corporate holder of Ethereum and the largest publicly traded Ethereum treasury company, with the latest acquisition bringing it to 92% completion of its stated ownership target.
Bitmine Advances Toward 5% Ethereum Supply Target with Strategic Accumulation
Bitmine's Ethereum treasury reached 5.54 million ETH following the purchase of 126,971 ETH over the past week, according to the company. The holding represents approximately 4.59% of Ethereum's 120.7 million ETH supply. The company said it has now achieved 92% of its "Alchemy of 5%" target, a strategy centered on accumulating a significant share of Ethereum's circulating supply.
Staking Operations Generate Projected Annual Revenue of $230 Million
Bitmine reported that 4,718,677 ETH is currently staked, accounting for about 85% of its total ETH holdings. At an ETH price of $1,630, those staked assets are worth approximately $7.7 billion. Based on current staking activity, Bitmine projects annualized staking revenue of around $230 million. The company added that annual rewards could reach $270 million if all ETH holdings are eventually staked through MAVAN and other staking providers.
Total Holdings Reach $9.6 Billion Across Crypto and Investment Assets
As of 7 June, Bitmine held 5,543,872 ETH and 204 Bitcoin, alongside $247 million in cash. The company also reported equity investments including a $180 million stake in Beast Industries and a $88 million stake in Eightco Holdings, contributing to total crypto, cash and investment holdings of approximately $9.6 billion. Bitmine currently ranks as the largest corporate holder of Ethereum and remains the largest publicly traded Ethereum treasury company by a substantial margin.
FAQ
What is Bitmine's current Ethereum holding as of 7 June?
Bitmine Immersion Technologies holds 5.54 million ETH as of 7 June, representing approximately 4.59% of Ethereum's 120.7 million ETH total supply. The company purchased 126,971 ETH over the past week.
How much revenue does Bitmine project from Ethereum staking?
Bitmine projects annualized staking revenue of around $230 million based on current staking activity. The company stated that annual rewards could reach $270 million if all ETH holdings are eventually staked through MAVAN and other staking providers.
What are Bitmine's total holdings across all assets?
As of 7 June, Bitmine's total crypto, cash and investment holdings are valued at approximately $9.6 billion. This includes 5,543,872 ETH, 204 Bitcoin, $247 million in cash, a $180 million stake in Beast Industries, and a $88 million stake in Eightco Holdings.
