BitMine's Ethereum Holdings Climb to 5.9 Million Tokens
DeFi & Yields ·
The company added 53,501 ETH in the past week, pushing its total stash to nearly 4.9% of Ethereum's supply and extending a buying streak that has run 65 consecutive weeks.
BitMine's latest purchase, reported by cryptopotato.com, brings its Ethereum treasury to 5.9 million ETH, a position now valued at close to $15 billion. The pace of accumulation has been steady rather than sporadic, with the firm adding to its position every week for more than a year, moving it closer to a stated target of owning 5% of the total ETH supply.
Roughly 86% of the holdings are staked, a deployment that is generating an estimated $335 million in annualized revenue. That staking yield sits alongside a broader portfolio of crypto and other investments that has grown to $15.6 billion in total, according to figures cited by wublockchain.xyz. The scale of the staked position means BitMine's treasury strategy is not simply a passive bet on price but an active revenue-generating operation tied to Ethereum's proof-of-stake mechanics.
The buildup has drawn commentary from Tom Lee, who has described ether as the best-performing macro asset, a characterization noted by theblock.co in connection with the latest 53,501 ETH purchase. That framing places the week's acquisition within a longer narrative BitMine has built around treating ETH accumulation as a core corporate strategy rather than a one-off allocation.
With holdings approaching the 5% supply threshold the company has signaled as a goal, attention now turns to whether the weekly buying cadence continues at a similar scale or whether BitMine slows purchases as it nears that mark. Also unresolved is how staking revenue and portfolio valuation might shift if Ethereum's price or staking yields move, given that the $15 billion and $15.6 billion figures are tied to current market conditions rather than fixed values.