PiCK
BitMine buys an additional 60,976 Ethereum last week… holdings top 4.53 million
Summary
- BitMine said it bought an additional 60,976 ETH over the past week, pushing holdings to 4,534,563 (3.76% of total supply).
- BitMine’s long-term goal is to secure 5% of ETH supply, and it said it views the current phase as the latter part or final stage of a 'mini crypto winter.'
- BitMine said it is staking 3,040,483 ETH, estimating about $259 million in annual staking rewards and annualized staking income of about $174 million.
Forecast Trend Report by Period
BitMine, the world’s largest corporate holder of Ethereum (ETH), said it has expanded its ETH holdings to more than 4.53 million.
According to PR Newswire on the 9th, BitMine said it purchased an additional 60,976 ETH over the past week. As of the 8th (local time), BitMine held 4,534,563 ETH. This amounts to about 3.76% of total Ethereum supply (120.70 million). Valued at an ETH price of $1,965, the stake is worth roughly $8.9 billion. BitMine’s long-term goal is to secure 5% of ETH supply.
Tom Lee, chairman of BitMine, said, “Despite recent war concerns and a surge in oil prices, Ethereum has shown resilience,” adding, “We view the current phase as the latter part or final stage of a ‘mini crypto winter.’”
Citing analysis by BitMine adviser Tom DeMark (DeMark Analytics), Lee explained that “ETH’s price action resembles the bottoming patterns of the S&P 500 in 2011 and 1987.” Lee said, “The correlation coefficients of the price paths in the two periods are 89% and 93%, respectively,” adding, “If this similarity holds, ETH could form a bottom between the 8th and the 14th, potentially below the recent low of $1,740.”
“No one rings a bell at the bottom,” he said, adding that BitMine is “slightly increasing the pace of ETH accumulation.” He noted that the recent weekly average purchase size had been around 45,000 to 50,000, but rose to 60,976 this week.
BitMine is currently staking 3,040,483 ETH, worth about $6.0 billion at $1,965. The company estimated that applying a 2.91% yield as of the 7th would translate into annual staking rewards of about $259 million. Annualized staking income is estimated at about $174 million. The Composite Ethereum Staking Rate (CESR) was tallied at 2.84%.
BitMine plans to launch its proprietary staking solution, the “Made in America Validator Network (MAVAN),” in the first quarter of 2026. The company said it is currently working with three staking partners.
Meanwhile, BitMine’s total holdings of digital assets and cash were tallied at $10.3 billion. In addition to ETH, it holds 195 Bitcoin, a $200 million stake in Beast Industries, a $14 million stake in Eightco Holdings, and $1.2 billion in cash.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
