BitMine Immersion Technologies · Ethereum · U.S. Treasury · Bitcoin · Bitcoin.com News
Bitmine Raises Ether Holdings to 5.77 Million, Reaches 4.8% of Ethereum Supply
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Bitmine now holds 5.77 million ETH, equal to 4.8% of ether’s total supply, putting it 96% of the way to its 5% target.
Key facts
- As of July 12, the company held 5,770,038 ETH valued at $1,820 per token, along with 206 BTC, $482 million in cash and marketable securities, a $180 million stake in Beast Industries and a $69
- At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $284 million on an annualized basis (using 2.70% 7-day BMNR yield)
- The company also recently completed a 3.5 million-share offering of 9.50% Series A Perpetual Preferred Stock at $80 per share
- Bitmine now holds 5.77 million ETH, equal to 4.8% of ether’s total supply, putting it 96% of the way to its 5% target
Summary
Bitmine raised its holdings to 5.77M ETH, reaching 96% of its 5% ethereum supply target. MAVAN now stakes 4.92M ETH, with projected annualized staking revenue of $242M. Tom Lee says Robinhood Chain could boost ethereum adoption through ETH-based gas fees. Bitmine Immersion has increased its ether holdings to 5.77 million tokens, reinforcing its position as the world’s largest corporate ethereum treasury.