Bitmine Buys 71,672 More Ether, Raising Holdings to 5.28 Million ETH

Bitmine Immersion Technologies, the world’s largest corporate holder of Ether, bought another 71,672 ETH over the past week, lifting its total holdings to 5,278,462 ETH. That equals 4.37% of Ether’s circulating supply of 120.7 million tokens.

PR Newswire reported on May 18 that Bitmine held 5,278,462 ETH as of May 17. At an Ether price of $2,191, those holdings were worth about $11.5 billion.

Bitmine’s crypto, cash and strategic investment assets totaled $12.6 billion. The portfolio includes 5.28 million ETH, 202 Bitcoin, $685 million in cash, a $200 million stake in Beast Industries and an $83 million stake in Eighthco Holdings (ORBS).

The company has staked 4,712,917 ETH, worth about $10.3 billion at $2,191 per token. That accounts for about 89% of its total holdings. Its annualized return over the past seven days was 2.80%, translating to roughly $289 million in annual staking income. If all of its Ether were staked, annual rewards would rise to about $324 million, the company said.

Bitmine Chairman Tom Lee said the CLARITY Act, a bill related to crypto market structure, has cleared the Senate Banking Committee. He said the measure would provide the regulatory clarity needed for the crypto industry and Wall Street to build the next generation of financial infrastructure.

Several steps remain before the bill becomes law. Lee added that the probability of passage is higher than the 61% currently priced in by the market.

He also said Ether’s recent pullback below $2,200 was a buying opportunity. Bitmine expects to reach its goal of controlling 5% of total ETH supply in 2026.