Bitmine Staking Pushes ETH Holdings Near 5% Target

Key Summary

Bitmine Immersion Technologies has reached 6.02 million ETH holdings, accounting for 4.9% of the total ETH supply, within 15 months of launching its Ethereum treasury strategy. The company's ETH valuation is $16.3 billion at $2,726 per token. Annualized staking revenue is $363 million, representing 84% of its total ETH position, and is expected to reach $431 million if the entire ETH position is staked. Bitmine's treasury now includes 214 Bitcoin, $643 million in cash and marketable securities, a $180 million investment in Beast Industries, and a $117 million stake in Eightco Holdings.