Crypto Ethereum

BitMine Expands Ethereum Treasury as Crypto Assets Near $10 Billion

2 hours ago
Bitcoin Ethereum News

Bitmine now controls 3.71% of ETH supply, with $8.8B in holdings and $172M in annual staking revenue.

Bitmine Immersion Technologies has expanded its Ethereum treasury to 4.47 million ETH, pushing total crypto and cash holdings close to $10 billion. Accumulation has continued despite ongoing market weakness and rising geopolitical tension. Recent purchases, combined with staking income, have strengthened the company’s balance sheet. Active trading in BMNR shares also signals sustained investor interest.

Bitmine Builds $8.8B Ethereum War Chest Amid Market Pullback

As per latest market data, Bitmine holds 4,473,587 ETH valued at $1,976 per token. And this figure brings its Ethereum position to roughly $8.8 billion. That stake represents 3.71% of Ethereum’s 120.7 million circulating supply. Management notes that the company is now more than 74% of the way toward its long-term goal of acquiring 5% of the total ETH supply.

Notably, Bitmine acquired 50,928 ETH in the past week alone. Chairman Thomas “Tom” Lee said the firm views the recent pullback as attractive. In his view, Ethereum’s current price does not reflect its utility or its expanding role in financial infrastructure.

Beyond Ethereum, total crypto, cash, and strategic investments now amount to $9.9 billion. Alongside its ETH position, Bitmine owns 195 Bitcoin and holds $868 million in cash. In addition, the company recently invested $200 million in Beast Industries and maintains a $14 million stake in Eightco Holdings.

Key balance sheet figures include:

  • 4,473,587 ETH valued at approximately $8.8 billion.
  • 195 BTC holdings.
  • $868 million in cash reserves.
  • $214 million combined in Beast Industries and Eightco Holdings.

Staking income remains a core driver of recurring revenue. Currently, 3,040,483 ETH are staked, equal to about $6.0 billion at prevailing prices. That accounts for roughly 68% of total Ethereum holdings.

Staking Revenue Hits $172M as ETH Yield Outpaces Benchmark

Annualized staking revenue has reached $172 million. At full scale, management estimates staking rewards could reach $253 million annually, based on a 2.86% seven-day yield. For comparison, the Composite Ethereum Staking Rate stands at 2.83%, placing Bitmine slightly above the broader benchmark.

Meanwhile, work continues on the Made in America Validator Network, or MAVAN. Launch is scheduled for the first quarter of 2026. Three staking providers are currently supporting development as the company prepares to transition more ETH into its internal validation structure.

On a global scale, Bitmine ranks as the largest Ethereum treasury company. Overall, it stands as the second-largest crypto treasury behind Strategy Inc., which holds 717,722 Bitcoin valued near $47 billion. Unlike Bitcoin-focused peers, Bitmine’s concentration in Ethereum reflects a different capital allocation strategy.

Market liquidity further distinguishes the company. According to Fundstrat data, BMNR averages $0.8 billion in daily trading volume over the past five sessions. That places it 145th among more than 5,700 U.S.-listed stocks, just behind Datadog and ahead of Expedia Group.

Institutional backing also remains strong. Supporters include ARK’s Cathie Wood, Founders Fund, Pantera, Kraken, Digital Currency Group, Galaxy Digital, Bill Miller III, and Thomas “Tom” Lee personally. Management states that such backing aligns with its objective of reaching 5% of Ethereum supply.

Geopolitical risk has recently intensified following U.S. combat operations involving Iran. Lee acknowledged that volatility may persist in the coming weeks. Even so, Bitmine continues steady ETH accumulation during what it describes as the later stages of a mini crypto winter.

Source: https://www.livebitcoinnews.com/bitmine-expands-ethereum-treasury-as-crypto-assets-near-10-billion/