coinedition.com
Bitmine Immersion Technologies has expanded its Ethereum treasury to 5.85 million $ETH, worth about $14.3 billion. The company now controls roughly 4.8% of Ethereum’s circulating supply. Additionally, Bitmine added 32,447 $ETH during the past week, extending its weekly buying streak.
The company’s broader holdings reached $14.9 billion, including Bitcoin, cash, marketable securities, and strategic investments. Consequently, Bitmine continues to strengthen its position as the world’s largest corporate Ethereum treasury.
$ETH has also gained nearly 30% over seven days, reaching about $2,472. The sharp rally has increased the value of Bitmine’s holdings significantly. Moreover, Bitmine expects improving financial conditions to support further cryptocurrency demand.
Staking Adds Another Growth Engine
Bitmine has staked 5.07 million $ETH, representing about 87% of its Ethereum holdings. Hence, staking now provides the company with another potential source of recurring revenue.
The company estimates annualized staking revenue at approximately $330 million. Its MAVAN validator network also aims to attract institutional investors seeking Ethereum staking infrastructure.
Significantly, Bitmine says its treasury represents 97% of its long-term 5% Ethereum ownership target. However, reaching that milestone will depend on continued accumulation and Ethereum’s supply dynamics.