Bitmine Immersion Technologies ETH Holdings Reach 6.02 Million Tokens, Nearing 5% Supply Target
Key Summary
Bitmine Immersion Technologies has reached 6.02 million ETH holdings, accounting for 4.9% of the total ETH supply, within 15 months of launching its Ethereum treasury strategy. The company's ETH valuation is $16.3 billion at $2,726 per token. Annualized staking revenue is $363 million, representing 84% of its total ETH position, and is expected to reach $431 million if the entire ETH position is staked. Bitmine's treasury now includes 214 Bitcoin, $643 million in cash and marketable securities, a $180 million investment in Beast Industries, and a $117 million stake in Eightco Holdings.
Bitmine’s Ethereum treasury now represents 4. 9% of total ETH supply, while more than 5 million tokens are staked and the company puts annualized staking revenue at $363 million.