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Bitmine Immersion Technologies reaches 4.9% Ethereum supply ownership
Bitmine Immersion Technologies has acquired an additional 12,535 Ethereum (ETH), bringing its total holdings to approximately 6,041,481 tokens. This acquisition brings the company to roughly 4.9% of the total Ethereum circulating supply, nearing its stated goal of the ‘Alchemy of 5%’ target. The company plans to cease further purchases once it reaches the 5% threshold, which is estimated to be about 64,000 ETH away.
Despite the increase in ETH holdings, Bitmine reported that its total assets—comprising cryptocurrency, cash, marketable securities, and strategic investments—fell from $16.2 billion to $15.1 billion in a single week. This decline is attributed to the drop in ETH valuation, which fell from approximately $2,544 to $2,365 per token during that period.
Bitmine currently holds over 5 million staked ETH, which is projected to generate between $309 million and $369 million in annual staking rewards. The company’s broader portfolio also includes 215 Bitcoin, $582 million in cash and marketable securities, and stakes in Beast Industries and Eightco Holdings. Chairman Tom Lee noted that recent market volatility was driven by factors including AI safety concerns, geopolitical tensions in the US-Iran region, and rising global bond yields.
Entities
Bitmine Immersion Technologies · Coinbase · Eightco · Ethereum · MAVAN · Tom Lee
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The company has 5,067,309 ETH currently in staking. cryptonomist.ch · theqldr.com.au
- [● 3 SOURCES] Bitmine Immersion Technologies reported Ethereum holdings of approximately 6.04 million tokens. www.coincu.com · cryptonomist.ch · theqldr.com.au
- [○ 1 SOURCE] Bitmine added 12,535 ETH to its treasury in its latest reported acquisition. www.coincu.com
- [● 2 SOURCES] Bitmine's Ethereum holdings represent approximately 4.9% of the total Ethereum supply. cryptonomist.ch · theqldr.com.au
- [● 2 SOURCES] The company holds $74 million in Eightco (NASDAQ: ORBS). cryptonomist.ch · theqldr.com.au
- [● 3 SOURCES] The company's total holdings of crypto, cash, marketable securities, and moonshot investments amount to $15.1 billion. www.coincu.com · cryptonomist.ch · theqldr.com.au