On October 12, Bitmine Immersion Technologies (BMNR) announced that it holds approximately 6.03 million ETH, accounting for about 4.9% of the total ETH supply. Last week, the company increased its holdings by 12,532 ETH, further growing its position from 6 million ETH and coming just one step away from its goal of holding 5% of the total ETH supply. In addition to ETH, the company's total holdings of cryptocurrencies, cash, tradable securities, and other investments amount to approximately $16.2 billion. The company has staked 5.067309 million ETH, valued at approximately $12.9 billion according to the announcement, which represents about 84% of its total ETH holdings. Tom Lee stated that since the launch of the ETH treasury strategy on June 30, 2025, the company has been continuously buying ETH on a weekly basis. After all of its held ETH is staked through MAVAN and partners, the annualized staking income is expected to reach about $400 million, based on the current 2.61% seven-day yield. Additionally, the company's perpetual preferred stock BMNP closed at $99.53, above the issuance price of $80 per share. Tom Lee believes that tokenization, wealth transfer, and AI-related demand will drive the development of the cryptocurrency market, and Bitmine is expected to benefit from the next bull market.
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Bitmine Increases ETH Holdings by 12,532 to 6.03 Million, Total Investments Valued at Approximately $16.2 Billion
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