October 5th 2026, 2:55 PM
BitMine Boosts Ethereum Treasury with Record Low Acquisition
Key Summary
BitMine has acquired 15,112 ETH, increasing its treasury to 6,016,414 tokens, marking the smallest weekly buy since August 16. This purchase is part of the company's efforts to accumulate 5% of its 122.1 million ETH supply. As of the latest valuation, BitMine's ETH is worth $2,726 per token, contributing to a total portfolio worth $17.4 billion, including 214 Bitcoin, a $180 million stake in Beast Industries, and $117 million in Eightco Holdings. BitMine Chairman Tom Lee attributes the company's share price outperformance of ETH during the bear market to its share buyback program, which has acquired 21 million of its own shares this year.
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Key Development
BitMine has announced a significant increase in its Ethereum treasury holdings, now standing at 6.02 million ETH.Projected Revenue
Lee projected $363 million a year in staking revenue, based on a 2.63% seven-day yield from BitMine's own operations.Market Impact
This move indicates a stable growth in BitMine's staking operations, further solidifying its presence in the Ethereum ecosystem.#Ethereum#BitMine#Crypto#Staking