Bitmine Buys 28k ETH, Completes 97% of Treasury Accumulation Goal
The company said weekly Ethereum buying and staking pushed annualized rewards to $330 million as it nears a 5% supply target.
- Bitmine Immersion Technologies announced total holdings of $15.7 billion, with Chairman Thomas Lee reporting the company reached 97% of its "Alchemy of 5%" goal to acquire 5% of total Ethereum supply within 15 months.
- Weekly ETH acquisitions since June 30, 2025 have driven the accumulation; Bitmine now stakes 5,067,309 ETH worth $12.6 billion while its MAVAN platform projects $330 million in annualized staking revenues.
- Chairman Tom Lee reported Bitmine common stock gained 99% this quarter, far outpacing the Russell 1000 benchmark's 3% gain; however, unrealized losses on the treasury asset reached $5.1 billion according to market data.
- Over the past week, Bitmine acquired 28,086 ETH worth approximately $69.4 million at Tuesday's ether price of $2,472, solidifying its position as the world's largest publicly listed Ethereum treasury.
- Positive catalysts including the CLARITY Act vote scheduled for mid-September and the 4-year crypto cycle bottoming could drive gains, as technical analyst Tom DeMark anticipates a sharp upward move in ETH.
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Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 5.93 Million Tokens, and Total Crypto and Total Cash Holdings of $15.7 Billion
Bitmine owns 4.9% of the total ETH coin supply of 122.0 million Bitmine is 97% of the way to the 'Alchemy of 5%' in just 15 months Crypto equities are largest...
In the sector of crypto treasury companies, the giant Bitmine is a leader with its Ether stock to which it has just added more than 28,000 additional ETH. This will allow it to get closer to its goal of holding 5% of the total supply of this cryptocurrency. We take stock... The article Bitmine buys another 28,086 ETH and approaches 5% of total Ether supply appeared first on Cryptoast.
Bitmine has been buying Ethereum every week for 15 months and is on the verge of its own goal. However, the price decline leaves clear traces in the balance sheet. Source: BTC-ECHO BTC-ECHO
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