BitMine adds 32,447 ETH, pushing total stake to 4.8% of supply
Macro & Markets ·
Tom Lee-led BitMine Immersion Technologies expanded its ether treasury last week, deepening its position as one of the largest corporate holders of the asset.
BitMine, led by Fundstrat's Tom Lee, acquired an additional 32,447 ETH over the past week, according to wublockchain.xyz. The purchase brings the company's total ether holdings to 5.847 million tokens, a figure corroborated across multiple reports tracking the accumulation.
That balance now represents approximately 4.8% of ETH's total supply, a concentration level that places BitMine among the more significant single holders of the asset. The company disclosed that total crypto and cash holdings have reached $14.9 billion, according to a filing reported by prnewswire.com.
A substantial share of the ETH stack is not sitting idle. Roughly 87% of BitMine's holdings are staked, a structure that generates an estimated $330 million in annualized staking revenue based on figures circulating alongside the disclosure. Staking at that scale ties BitMine's returns directly to network validator rewards rather than solely to price appreciation, giving the treasury an ongoing income stream tied to its holdings.
The accumulation strategy mirrors a pattern of steady weekly additions rather than a single large purchase, with the 32,447 ETH acquired over the course of the past week alone. Four distinct sources have covered the disclosure, pointing to consistent reporting of both the holdings total and the supply percentage.
What remains unclear is how BitMine intends to finance further purchases, whether the staking allocation will change as holdings grow, and how the company's ETH position compares to other large corporate or institutional holders as the supply share continues to climb. Future disclosures on cash reserves and staking yield will be needed to assess whether the current pace of accumulation is sustainable.