BitMine, the world’s largest corporate Ethereum treasury holder, continued its regular accumulation strategy this week. The company purchased another 53,501 ETH over the past week, pushing its total Ethereum holdings above 5.9 million ETH. Its reserves now represent approximately 4.9% of Ethereum’s total supply.
The company also continues to use a large portion of its Ethereum holdings for staking. BitMine currently has 5,067,309 ETH staked, representing approximately 86% of its total reserves. If current conditions continue, the company estimates that its staking operations could generate approximately $335 million in annualized revenue.
BitMine also holds $541 million in cash and securities, while the combined value of its crypto assets, cash, securities and other investments stood at $15.6 billion as of August 30. With its latest weekly purchase, BitMine has moved even closer to holding 5% of Ethereum’s total supply.
