BitMine Immersion Technologies bought 42,197 ETH worth roughly $73 million over the past week, lifting its total to 5,742,237 ETH — about 4.8% of Ethereum’s circulating supply. The company left its staked position untouched and remains on pace toward a stated goal of 5% of total supply.
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.
What the $11.1 billion balance sheet holds
The company’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). It also holds $527 million in cash and marketable securities, per the same update.
Staked ETH stays flat at 4,879,157
But the buying did not extend to staking. BitMine’s staked ETH total stood at 4,879,157, unchanged from the prior week, according to a tracker citing the company’s disclosure. That leaves the staked portion of the treasury static even as the overall ETH balance grew.
BitMine keeps pushing toward 5% of supply
The buildup has made BitMine the largest corporate holder of ETH, and the weekly accumulation keeps it 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. Lee publicly defended the company’s funding model in June, after an insider warned of a cash gap.
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
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