BitMine adds 27,801 ETH in a week, pushing stash to 5.77 million tokens
Macro & Markets ·
The Ethereum treasury company disclosed the purchase alongside a filing that puts its holdings at roughly 4.8% of circulating supply.
BitMine Immersion Technologies reported that it added 27,801 ETH over the past seven days, raising its total Ethereum position to 5.77 million tokens, according to a filing referenced on sec.gov. The company detailed the figures in a press release stating that its combined crypto and cash holdings now stand at $11.3 billion, per prnewswire.com. At 4.8% of the circulating ETH supply, the company's stake underscores how far its balance sheet has shifted from its original mining business toward large-scale Ethereum accumulation.
Chairman Tom Lee tied the buying to shifting sentiment around Ethereum's use case, saying users are increasingly viewing the asset as a form of money rather than purely a speculative holding, a comment covered by theblock.co. Separate reporting from decrypt.co noted Lee also disclosed a $49 million Ethereum purchase and pointed to early adoption of the Robinhood Chain layer-2 network as a factor supporting demand strength.
The accumulation pace has been corroborated across multiple accounts of BitMine's activity. One report from cryptopotato.com put a separate weekly addition at over 30,500 ETH, also arriving at the same 5.77 million token total, while other tallies in the same period cited additions of 30,567 ETH. Figures on staked ETH also varied slightly across accounts, with some placing the staked position above 4.9 million tokens and projected annual revenue near $235 million, positioning BitMine as the largest corporate holder of ETH by some measures.
BitMine's broader profile, tracked on leviathan.news, describes the company as a NYSE-listed Bitcoin and Ethereum firm that has built its treasury through aggressive ETH accumulation, staking via its MAVAN platform, and a 9.5% preferred share structure designed to give public-market investors exposure to Ethereum-linked yield. Not yet clear from the available material is the exact breakdown between the 27,801 ETH and 30,567 ETH figures cited in different reports, nor the precise current staking total, leaving open how the company's yield projections and supply-share calculations will be reconciled in subsequent disclosures.