Bitmine steps up Ethereum accumulation pace… holdings rise to 4.596 million ETH

Suehyeon Lee

Summary

Bitmine Immersion Technologies said it has sharply increased its purchase pace for Ethereum (ETH), lifting total holdings to about 4.596 million ETH.
Bitmine said it is using about 3.04 million ETH (about 66%) of its Ethereum holdings for staking, generating roughly $180 million a year in staking income.
It said that 30 listed companies across seven countries hold a total of about 6.6 million ETH as a treasury strategy, equivalent to about 5.47% of total ETH supply.

Forecast Trend Report by Period

Bitmine Immersion Technologies, which holds Ethereum (ETH) as a corporate treasury asset, has sharply increased the pace of its recent ETH purchases.

According to Cointelegraph on the 16th (local time), Bitmine Chairman Tom Lee said the company bought an additional roughly 60,999 ETH last week. This is a significant increase from the recent weekly average purchase volume of 45,000–50,000 ETH.

Of that amount, 5,000 ETH was purchased directly from the Ethereum Foundation via an over-the-counter (OTC) transaction. The deal is said to have been structured to allow the foundation to secure operating funds without directly selling ETH on the market.

With the latest purchase, Bitmine’s total Ethereum holdings increased to about 4.596 million ETH, equivalent to roughly 3.81% of total ETH supply. The company said its total assets—including crypto holdings, cash and other investments—stand at about $11.5 billion.

Bitmine is using about 3.04 million ETH (about 66%) of its holdings for staking. At current prices, that is worth about $6.6 billion, and it is estimated to generate about $180 million a year in staking income.

Meanwhile, the market is also focusing on the growing number of cases in which companies hold Ethereum as part of their treasury strategy. According to CoinGecko, 30 listed companies across seven countries hold a total of about 6.6 million ETH, which corresponds to about 5.47% of total supply.

ETH