Bitmine Immersion Technologies acquired an additional 52,203 ETH over the past week, increasing its total holdings to 5.67 million Ethereum. Valued at nearly $10 billion, the company’s treasury now represents approximately 4.7% of Ethereum’s circulating supply. Bitmine plans to continue its accumulation strategy and raise this share to 5% in the coming period.
Staking revenues remain a key pillar
The company is not only accumulating Ethereum but also generating passive income from its holdings. More than 83% of its ETH treasury, equivalent to 4.72 million ETH, has been allocated to staking. Through this strategy, Bitmine expects to generate annual revenue between $223 million and $268 million while continuing to distribute weekly dividends to investors.
To support its expansion plans, Bitmine recently raised approximately $274 million through preferred shares listed on the New York Stock Exchange. Chairman Tom Lee maintains a bullish outlook on the market, arguing that the crypto industry is still in the early stages of a “crypto spring” and that growing demand from tokenization and artificial intelligence applications will accelerate Ethereum adoption in the years ahead.
