Ethereum
BitMine Acquires Additional 12,535 Ether to Approach 5% of Total Supply
BitMine Immersion Technologies expanded its crypto treasury by 12,535 ETH last week, bringing its total holdings to over 6.04 million tokens.
BitMine Immersion Technologies, chaired by Tom Lee, added 12,535 Ether to its reserves last week, elevating its total holdings to 6,041,481 ETH as of October 18. The company now holds approximately 4.9% of the circulating Ether supply and reports total assets of $15.1 billion across cryptocurrencies, cash, marketable securities, and other investments.
To reach its stated objective of holding 5% of all Ether—equivalent to 6,105,000 tokens based on a circulating figure of 122.1 million—the firm needs approximately 63,519 more ETH. However, this required amount remains subject to continuous shifts in the network's total supply caused by issuance and fee burns.
Beyond direct purchases, BitMine has committed roughly 5.07 million ETH, or about 84% of its reserves, to staking. With a reported annualized yield of 2.58% calculated over the past week, these staking operations could generate roughly 130,700 ETH annually, helping expand reserves without requiring additional open-market acquisitions.
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