BitMine Buys 126,971 More Ether, Lifting Holdings Above 5.54 Million ETH

BitMine, the world’s largest corporate Ether holder, bought 126,971 ETH over the past week, raising its total holdings to 5,543,872 ETH.

PR Newswire reported on June 8 that BitMine held 5,543,872 ETH as of June 7. At an Ether price of $1,630, the stake was worth about $9 billion. That represents 4.59% of Ether’s total circulating supply of 120.7 million tokens.

BitMine’s crypto, cash and strategic investment assets totaled $9.6 billion. Those assets include 5.54 million ETH, 204 Bitcoin, $247 million in cash, a $180 million stake in Beast Industries and an $88 million stake in Aitco.

The company has staked 4,718,677 ETH, valued at about $7.7 billion at $1,630 per token. That is more than 85% of its total holdings. As of June 7, the annualized staking yield was 2.99%, implying about $230 million in yearly staking income. BitMine said staking its entire Ether position would generate about $270 million in annual rewards.

Chairman Tom Lee said the recent crypto-market pullback tied to a Zcash vulnerability issue reflected only a superficial interpretation. As artificial intelligence systems advance, demand for highly secure decentralized networks will increase, he said. He added that Ethereum’s reliability and durability are strengthening the foundation for long-term demand.

BitMine bought another 126,971 ETH last week, Lee said, adding that the recent price correction does not reflect fundamentals. He said the company expects to reach its goal of controlling 5% of Ether supply in 2026.