Bitmine Immersion Technologies (BMNR) has acquired an additional 27,801 Ethereum (ETH) over the past week, further solidifying its position as the world’s largest corporate holder of the cryptocurrency.
The company’s Ethereum treasury now totals 5.77 million ETH, representing 4.8% of the asset’s circulating supply of approximately 120.7 million tokens. With ETH trading at $1,765 as of July 13—a 3% decline on the day and 64% below its all-time high of $4,946 reached in August 2023—Bitmine’s holdings are valued at roughly $10.5 billion USD.
Chairman Tom Lee emphasized that Bitmine is maintaining an aggressive acquisition pace while Ethereum remains below the critical $2,000 support level. The firm is now just 96% of the way toward its publicly stated goal of owning 5% of Ethereum’s total circulating supply.
Of its current holdings, 4.92 million ETH (about 85%) are staked on the Ethereum network. Bitmine projects annualized staking revenue of $242 million from this activity.
Despite its growing crypto treasury, BMNR’s stock has faced significant market pressure, declining 64% over the past 12 months to trade at $14.60 per share.