Hassan Maishera
TL;DR
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Bitmine Immersion Technologies increased its ether holdings to 4.474 million tokens after purchasing nearly 51,000 ETH last week.
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The acquisition brings its total crypto and cash holdings to $9.9 billion.
Bitmine Now Holds Nearly 4.5 Million Ether Tokens
Tom Lee’s Bitmine Immersion Technologies announced on Monday that it purchasednearly 51,000 more ETH tokens last week, increasing its holdings to 4.474 million.
Chairman Tom Lee stated that,
"In the midst of this 'mini crypto winter,' our focus continues to be on methodically executing our treasury strategy and steadily acquiring ETH and, in turn, optimizing the yield on our ETH holdings."
According to the company, it has now staked 3,040,483 ETH, worth about $6 billion at current prices. Lee said annualized staking revenue stands at $172 million. At full scale, staking rewards could reach $253 million annually based on a 2.86% yield over the last seven days, the chairman added.
Thanks to the latest acquisition, the company now holds 4,473,587 ether (ETH), valued at $1,976 per token, along with 195 bitcoin and $868 million in cash, as well as a $200 million stake in Beast Industries and a $14 million investment in Eightco Holdings.
Bitmine added that its ether position represents 3.71% of Ethereum’s 120.7 million token supply.
Lee also announced that Bitmine is currently developing its Made in America Validator Network, or MAVAN, a staking platform slated for launch in early 2026. The company is working with three staking providers as it builds the network.
Three weeks ago, BitMine added $83.6 million worth of ETH to its treasury, strengthening its bet on the future of Ethereum. The company intends to hold 5% of Ethereum’s total supply.
