The firm now holds 4.8% of Ethereum’s supply, with $250 million in projected annual staking revenue from 5.07M staked ETH.
BitMine increased its Ethereum holdings by 9,926 ETH in the past week, bringing its total to 5.82 million tokens. This represents approximately 4.8% of Ethereum’s circulating supply, reinforcing its position as a major holder.
The company has staked 5.07 million ETH, or 87% of its holdings, with an estimated annualized staking revenue of $250 million. Additionally, BitMine repurchased 1.7 million shares last week, raising its cumulative buybacks since July to over 20.8 million shares. Total assets, including crypto, cash, and marketable securities, stood at $11.4 billion as of August 16.
No immediate market reaction was disclosed in the update.