Summary
- Bitmine said it bought an additional 27,801 Ether (ETH) over the past week, raising total holdings to 5,770,038 tokens, or 4.8% of circulating supply.
- The company said its digital assets, cash, marketable securities and strategic investments totaled $11.3 billion, with its ETH holdings valued at about $10.5 billion.
- Bitmine said it has staked 4,917,189 ETH, or 85% of its holdings, generating a 2.70% annualized yield and about $242 million in annual income, and expects to meet its goal of acquiring 5% of all ETH.
Forecast Trend Report by Period
Bitmine Immersion Technologies, the world’s largest corporate holder of Ether, bought 27,801 ETH over the past week, raising its total holdings to 5,770,038 ETH. That equals 4.8% of Ether’s circulating supply of 120.7 million tokens.
Bitmine’s digital assets, cash, marketable securities and strategic investments totaled $11.3 billion as of July 13, according to a PR Newswire statement. Those assets include 5.77 million ETH, 206 Bitcoin, $482 million in cash and marketable securities, a $180 million stake in Beast Industries and a $69 million stake in Aethir Holdings.
At an Ether price of $1,820, Bitmine’s ETH holdings are worth about $10.5 billion. The company said it has reached 96% of its goal of acquiring 5% of all ETH and expects to hit that target this year.
Bitmine has staked 4,917,189 ETH, or 85% of its holdings. At $1,820 per token, that stake is worth about $9 billion. Its annualized seven-day staking yield was 2.70% as of July 7, implying about $242 million in annual staking income, the company said. If all of its ETH were staked, annual rewards would rise to about $284 million.
Chairman Tom Lee said one of the biggest success stories in the digital-asset market this year has been Robinhood Chain, an Arbitrum-based layer-2 mainnet launched on July 1. Trading volume has already surpassed $1 billion, and Robinhood Chain is posting more volume than any other decentralized exchange, he said.
Robinhood Chain uses ETH as its base fee token, with transaction fees denominated in ETH and final settlement completed on Ethereum. Robinhood’s 27 million users are already paying digital-asset fees priced in ETH. “Everyday users are beginning to see ETH as money,” Lee added.
Bitmine stepped up its buying pace from the prior week by purchasing 27,801 ETH over the past week, Lee said. The company has maintained a steady pace of accumulation throughout the year. He added that the market remains in the early stages of a crypto spring and that Bitmine expects to reach its goal of controlling 5% of ETH in 2026.
Bitmine is the world’s largest Ethereum treasury company and remains the second-largest digital-asset treasury company globally after Strategy.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.