Summary
- BitMine said it bought an additional 71,524 Ether over the past week, expanding its holdings to 4,874,858 ETH.
- BitMine said it now holds 4.04%% of Ether’s circulating supply, moving closer to its goal of holding 5%% of all ETH, and estimated annual income of about $212 million from 3,334,637 staked ETH.
- Chairman Tom Lee said ETH has risen 17.4%% since the Iran war began and posted excess returns versus the S&P 500 and gold, showing it is functioning as a store of value during wartime.
Forecast Trend Report by Period
BitMine, the world’s largest corporate holder of Ether, bought 71,524 ETH over the past week, bringing its total holdings to 4,874,858 ETH.
A PR Newswire release dated April 13 said BitMine held 4,874,858 ETH as of April 12. That represents about 4.04% of Ether’s circulating supply and brings the company closer to its goal of owning 5% of all ETH.
The holdings were valued at about $10.7 billion based on an Ether price of $2,206. BitMine said its crypto, cash and strategic investment assets totaled $11.8 billion, including 198 Bitcoin, a $200 million stake in Best Industries, an $85 million stake in Aethco Holdings (ORBS), and $719 million in cash.
The company has staked 3,334,637 ETH, worth about $7.4 billion at the same $2,206 price. That is about 68% of its total holdings. Based on the past seven days, BitMine put its annualized staking yield at 2.89% and estimated annual staking income at about $212 million. It said annual rewards could rise to about $310 million if all of its ETH were staked.
BitMine is staking part of its Ether through its institutional platform, Made in America Validator Network, or MAVAN. The company plans to expand the service to institutional investors.
Chairman Tom Lee said ETH has gained 17.4% since the start of the Iran war, outperforming the S&P 500 by 1,830 basis points and gold by 2,743 basis points as the conflict entered its seventh week. He said the performance shows ETH is functioning as a store of value during wartime. Lee added that Ethereum is also benefiting from structural demand driven by Wall Street’s push into blockchain tokenization and by the need for public, neutral blockchains to support agentic artificial intelligence.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
