coindesk.com
Bitmine Immersion Technologies (BMNR) has announced that it now holds more than 4.14 million ether ETH$3,168.89, approximately 3.43% of the total supply, as it continues to accumulate tokens in an effort to reach its 5% target.
The company’s crypto and cash holdings now total $14.2 billion, including $915 million in cash, 192 BTC and a $25 million stake in Eightco Holdings (ORBS), according to a press release.
Led by Chairman Tom Lee, Bitmine added nearly 33,000 ETH to its treasury during over the past week. Lee has predicted that the price of ether will go as high as $250,000 if bitcoin eventually reaches $1 million.
As of January 4, Bitmine had staked 659,219 ETH, equivalent to approximately $2.1 billion worth. The firm, which currently collaborates with three staking providers, aims to expand this number through the launch of its in-house validator, known as the Made in America Validator Network (MAVAN). It’s set to go live in early 2026.
If fully staked at current rates, the BitMine projects over $1 million per day in staking rewards, given the current Composite Ether Staking Rate (CESR) of around 2.82%.
BMNR’s shares are up 4.4% in early action Monday alongside a rise in the price of ether to $3,171.