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- Bitmine bought 60,999 ETH in a week, raising holdings to 4.59M ETH, or 3.81% of supply.
- About 66% of Bitmine’s ETH is staked, producing $180M yearly with a yield at 2.81%.
- The company targets 5% ETH supply as accumulation accelerates amid crypto market gains.
Bitmine Immersion Technologies reported its largest Ethereum purchase of the year after acquiring 60,999 ETH last week. The purchase raised its total Ethereum holdings to 4,595,562 ETH, representing about 3.81% of the network’s 120.7 million circulating supply.
The company disclosed the figures in an official statement outlining its latest treasury update. The purchase also reflects a faster accumulation pace compared with previous weeks.
Bitmine also confirmed a separate 5,000 ETH over-the-counter purchase from the Ethereum Foundation. Chairman Tom Lee said the transaction supports the foundation’s operations. The structure allows the foundation to raise funds without selling tokens on public exchanges.
Bitmine Stakes 66% of ETH Holdings
A major share of Bitmine’s Ethereum is deployed in staking. The company reported that 3,040,515 ETH, about 66% of its holdings, are currently staked. The staked assets are valued at nearly $7 billion.
Bitmine’s staking operations recorded a seven-day yield of 2.81%. This slightly exceeds the Composite Ethereum Staking Rate of 2.79%. The yield generates about $180 million in annualized staking revenue.
Lee said rewards could increase once more assets are deployed. He projected staking income reaching about $272 million annually after full deployment through partners and the MAVAN network.
MAVAN, the “Made in America Validator Network,” remains scheduled for launch in the first quarter of 2026. The company confirmed that three staking providers have already joined the network.
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Lee described the project as a secure validator infrastructure designed to improve control and maximize yield from Ethereum holdings.
Ethereum Leads Crypto Market Gains
Bitmine also disclosed details of its broader investment portfolio. The company holds 196 BTC and about $1.2 billion in cash. Additional investments include a $200 million position in Beast Industries and an $83 million stake in Eightco Holdings.
These assets bring the company’s total portfolio value to about $11.5 billion. Ethereum remains the core asset in the treasury.
Lee linked the increased rate of buying to the recent market conditions. He noted that cryptocurrency prices have risen since the war in Iran started.
According to Lee, Ethereum has outperformed the S&P 500 by 2,450 points in the past two weeks. He noted that higher oil prices and growth concerns are pushing investors to invest in growth assets, including crypto, software, and the MAG7 group.
Bitmine has increased its weekly purchases in the past two weeks. According to Lee, the firm thinks that Ethereum is near the end of a “mini crypto winter.”
Bitmine has accumulated 76% of its “Alchemy of 5%” in eight months, with 3.81% of the supply in its possession. The company is backed by investors including ARK Invest, Founders Fund, Pantera, and Galaxy.
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