Bitmine Immersion Technologies disclosed that as of June 7, its Ethereum holdings increased to 5,543,872, an increase of 126,971 from the previous week. Based on the company's reference price of $1,630 per coin, this asset is worth approximately $9.04 billion, bringing it closer to its target of 5% of the total supply.
The proportion of holdings rose to 4.59%.
The company disclosed that its current holdings represent approximately 4.59% of the estimated circulating supply of Ethereum, which is 120.7 million. The previous week, this figure was 4.49%. According to the company, it has currently achieved approximately 92% of its 5% target and expects to reach that level by 2026.
In addition to ETH, Bitmine also disclosed other asset allocations, including 204 Bitcoins, approximately $247 million in cash, and equity investments in Beast Industries and Eightco.
4.7187 million ETH have been staked.
The company stated that 4,718,677 ETH have been staked, representing over 85% of its total holdings. At the same reference price, this portion of assets is valued at approximately $7.7 billion. Bitmine indicated that the staking was primarily completed through its proprietary Made in America Validator Network (MAVAN) and other partners.
Bitmine Chairman Tom Lee stated that, based on the current scale, the annualized staking revenue is expected to be approximately $230 million. The company also provided a 7-day annualized staking yield of 2.99%. If all ETH holdings are used for staking on MAVAN and partner platforms in the future, the annualized rewards could rise to approximately $270 million.
Ethereum Treasury continues to expand
Bitmine links this Ethereum treasury strategy to tokenized financial assets and the increasing use of AI systems on public blockchains. However, this statement reflects the forward-looking judgment of the company's management.
According to the company, Bitmine is currently the largest Ethereum holder among publicly disclosed companies. Among publicly disclosed crypto treasury companies, it is second only to Strategy in size. As staking continues to expand, validator operations are becoming a core component of the company's treasury model.
Additional information:The company used an internal reference price for this disclosure, rather than the real-time market price at the time of publication. Therefore, the USD value of the holdings will fluctuate with changes in the ETH market price.
