BitMine Buys 126,971 More Ether, Raising Holdings to 5.54 Million ETH

BitMine, the world’s largest corporate Ether treasury, bought 126,971 Ether over the past week, lifting 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, those holdings were worth about $9 billion. That equals 4.59% of Ether’s circulating supply of 120.7 million tokens.

BitMine said its 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 ATECO.

The company has staked 4,718,677 ETH, worth about $7.7 billion at $1,630 per token. That represents more than 85% of its total holdings. As of June 7, the annualized staking yield was 2.99%, and annual staking income is estimated at about $230 million. BitMine said rewards would reach about $270 million if all of its Ether were staked.

BitMine Chairman Tom Lee said the recent pullback across the broader crypto market, following a Zcash vulnerability issue, reflected only a superficial reading of the situation. As artificial intelligence systems advance, demand for decentralized networks with stronger security will increase, he said. Ethereum’s reliability and durability are strengthening the foundation for long-term demand.

Lee added that BitMine bought 126,971 ETH last week and said the recent price correction does not reflect fundamentals. He said the company expects to reach its goal of holding 5% of all ETH in 2026.