BitMine Immersion Technologies · Ethereum · Bitcoin · Decrypt
Bitmine Introduces $68 Million in Ethereum as Holdings Near 6 Million ETH
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Bitmine Immersion Technologies bought another 27,180 Ethereum tokens last week, bringing its holdings to nearly 6 million ETH as it approaches its goal of owning 5% of the cryptocurrency’s supply.
Key facts
- Bitmine valued its total holdings at $15.8 billion, including its Ethereum, 212 Bitcoin, $549 million in cash and securities, and stakes in Beast Industries and Eightco Holdings worth $180 million
- In its Monday announcement, Bitmine said it held 5,956,378 ETH, worth approximately $14.89 billion, as of Sunday evening, representing roughly 4.9% of Ethereum’s supply
- About 85% of its Ethereum—5.07 million ETH—is staked, generating projected annualized revenue of $334 million at a 2.62% yield
- Bitmine Immersion Technologies bought another 27,180 Ethereum tokens last week, bringing its holdings to nearly 6 million ETH as it approaches its goal of owning 5% of the cryptocurrency’s supply
Summary
Bitmine bought 27,180 ETH last week, bringing its holdings to nearly 5.96 million tokens. Its crypto, cash, securities, and strategic investments total $15.8 billion, the company says. Approximately 85% of its Ethereum is staked, with projected annualized revenue of $334 million. In its Monday announcement, Bitmine said it held 5,956,378 ETH, worth approximately $14.89 billion, as of Sunday evening, representing roughly 4.9% of Ethereum’s supply.