Bitmine boosts Ethereum treasury to 5.54M ETH, nearing 5% supply target
Bitmine Immersion Technologies increased its Ether treasury to 5.54 million ETH after buying nearly 127,000 ETH in a week, equal to 4.59% of Ethereum’s total supply. The company says it has reached 92% of its goal of controlling 5% of ETH supply under its “Alchemy of 5%” strategy. About 4.72 million ETH, or 85% of its holdings, are staked through validator infrastructure, generating an estimated $230 million in annualized staking revenue, with potential to reach $270 million if fully staked through additional partners. Bitmine is the largest public Ether treasury holder among 32 tracked companies, far ahead of SharpLink. Its holdings also include 204 BTC, $247 million in cash, and equity stakes in Beast Industries and Eightco Holdings. The company’s stock rose more than 6% on the announcement, though it remains down about 38% year-to-date. Ether itself has fallen more than 43% this year, even as some investors and institutions have reduced exposure.
