Bitmine Now Holds 4.9% of Ethereum Supply After Adding…
By Abdelaziz Fathi
AI summary of the source article
BitMine Immersion Technologies expanded its Ethereum treasury to 6.03 million ETH, worth about $15.3 billion and representing 4.9% of supply. The firm is nearing its hard cap of 5%, with roughly 84% of its holdings currently staked.
Why it matters
Once the 5% cap is reached, Ethereum could lose one of its largest and most consistent corporate buyers.
Key facts
- BitMine held 6,028,946 ETH valued at approximately $15.3 billion as of October 11, representing 4.94% of Ethereum supply.
- Chairman Tom Lee stated the company will stop accumulating ETH once it reaches its 5% ceiling.
- BitMine has staked 5,067,309 ETH, generating an estimated $336 million in annualized staking revenue at a 2.61% yield.
Source excerpt · FinanceFeeds
BitMine Immersion Technologies has increased its Ethereum treasury to 6.03 million ETH, putting the company within roughly 76,000 tokens of its stated ceiling of owning 5% of Ethereum’s supply. The Tom Lee-chaired company acquired another 12,532 ETH during the past week, lifting total holdings to 6,028,946 ETH as of October 11. Using BitMine’s reference price of $2,544, the position was worth appr…