Bitmine Immersion has lifted its ether treasury to 5.77 million ETH, or 4.8% of Ethereum’s supply, reaching 96% of its self-declared 5% ownership target. The company has staked 4.92 million of those tokens and now projects $242 million in annualized staking revenue.
Bitmine Immersion holds 5.77 million ETH, cementing its standing as the world’s largest corporate ethereum treasury. As of July 12, the company held 5,770,038 ETH valued at $1,820 per token, alongside 206 BTC, $482 million in cash and marketable securities, a $180 million stake in Beast Industries and a $69 million stake in Eightco Holdings.
That position now represents 4.8% of Ethereum’s 120.7 million token supply, leaving the firm 96% of the way toward its stated “Alchemy of 5%” goal, 12 months after it began accumulating.
Staked ether nears 4.92 million
Most of that hoard is working. Bitmine has staked 4,917,189 ETH, worth about $9 billion at current prices, or roughly 85% of its total ETH holdings. Chairman Tom Lee said the company has staked more ETH than any other entity.
The firm now projects annualized staking revenues of $242 million. That recurring, ETH-denominated income has become central to Bitmine’s balance-sheet strategy as it keeps pursuing its supply-ownership target through staking.
Russell 1000 entry widens the investor base
The accumulation has coincided with broader market access. Bitmine was added to the Russell 1000 Large-cap Index on June 26 during the index’s annual reconstitution, which Lee said is expected to draw hundreds, and potentially thousands, of additional institutional investors.
The company also completed a 3.5 million-share offering of 9.50% Series A Perpetual Preferred Stock at $80 per share, raising net proceeds of about $273.8 million. Those shares now trade on the NYSE under the ticker BMNP, with dividends scheduled weekly.
Lee also flagged the launch of Robinhood Chain as a positive signal for ether usage. He said Robinhood Chain now has more trading volume than any other decentralized exchange, running on Ethereum as its underlying chain.
Source: Bitcoin News
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