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.