Bitmine Buys 26,497 More Ether in a Week, Holdings Rise Above 5.41 Million ETH

Bitmine Immersion Technologies, the world’s largest corporate Ether holder, bought 26,497 more ETH over the past week, raising its total holdings to 5,416,901 ETH.

PR Newswire reported on June 1 that Bitmine held 5,416,901 ETH as of May 31. At an Ether price of $2,003, those holdings were worth about $10.8 billion. That equals 4.49% of Ether’s total circulating supply of 120.7 million.

Bitmine’s crypto, cash and strategic investment assets totaled $11.6 billion. They include about 5.42 million ETH, 203 Bitcoin, $446 million in cash, a $180 million stake in Beast Industries and a $93 million stake in AptCo.

The company has staked 4,718,677 ETH, worth about $9.5 billion at $2,003 per token. That accounts for more than 87% of its holdings. Based on a seven-day annualized yield of 2.73%, annual staking income would be about $258 million. If all of its Ether were staked, annual rewards would reach about $296 million, the company said.

Chairman Tom Lee said Bitmine bought 26,497 ETH last week and that Ether’s price still does not fully reflect strengthening fundamentals. He added that the market remains in the early stages of a “crypto spring” and that Bitmine expects to reach its goal of holding 5% of all ETH in 2026.

Bitmine is the world’s largest Ethereum treasury company and the second-largest crypto treasury company globally.