Bitmine Increases Ethereum Treasury to 6.03 Million ETH Following New Purchases

Bitmine Immersion Technologies has increased its corporate holdings to 6.03 million Ether, valued at roughly $15.34 billion based on a reported price of $2,544 per token. The balance brings the firm's total crypto, cash, and investment portfolio to $16.2 billion following the acquisition of an additional 12,532 ETH over the past week.

The firm's Ether holdings now represent 4.9% of the cryptocurrency's circulating supply, nearing its stated target of 5%. Bitmine has also staked approximately 5.07 million ETH, worth $12.9 billion, across its MAVAN validator network and partner platforms. At an annualized yield of 2.61%, the company estimates full staking could generate roughly $400 million annually, though the report notes potential liquidity constraints and yield fluctuations.

Company chairman Tom Lee expressed confidence that Bitmine is positioned to outperform in an upcoming market expansion, having previously forecast Ether to reach $5,000 by year-end. To finance its strategy, Bitmine has also issued preferred stock offering a stated 9.5% annual dividend rate.

At the time of reporting, Ether traded at $2,500.71 after declining 1.5% in 24 hours, while Bitmine shares traded down at $23.83. Despite price swings, CryptoQuant data indicated that network activity remained steady, with daily active addresses between 330,000 and 500,000 and total smart contracts expanding from 60 million in January to over 72 million by October.