BitMine Immersion Technologies bought 42,197 ETH worth roughly $73 million over the past week, pushing its total holdings to 5,742,237 ETH, about 4.8% of Ethereum's circulating supply. The Tom Lee-chaired treasury company's staked ETH position held steady even as its overall balance grew.
BitMine Immersion Technologies (NYSE: BMNR), the Ethereum treasury company chaired by Fundstrat's Tom Lee, bought 42,197 ETH worth roughly $73 million over the past week, according to the company's own holdings update posted Monday. The purchase lifts BitMine's total to 5,742,237 ETH, about 4.8% of Ethereum's circulating supply.
Treasury holdings top $11 billion
BitMine's own account put total crypto and other holdings at $11.1 billion, including the ETH position valued at $1,800 per coin, 206 BTC, a $180 million stake in Beast Industries and a $71 million stake in Eightco Holdings (NASDAQ: ORBS). The company also holds $527 million in cash and marketable securities, per the same update.
Staking unchanged
BitMine's staking position stood at 4,879,157 staked ETH, unchanged from the prior week, according to a tracker citing the company's disclosure. The company did not add to its staked position even as its overall ETH balance grew.
Path toward 5% of supply
The purchase extends a buildup that has made BitMine the largest corporate holder of ETH. Weekly accumulation keeps BitMine on pace toward its stated goal of controlling 5% of ETH's total supply, a threshold the company has cited as a benchmark for its treasury strategy. BitMine's stock trades under ticker BMNR on the NYSE.
Independent market trackers monitoring BitMine's disclosure reported the $73 million figure and the 4.8%-of-supply calculation consistently, though the company's own post did not break out the weekly purchase amount separately from its cumulative total.
Source: The Defiant
Trading involves risk.
Risk Disclaimer
