BitMine Purchases Another $73 Million in ETH, Holdings Share of Circulating Supply Rises to 4.8%
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BitMine Purchases Another $73 Million in ETH, Holdings Share of Circulating Supply Rises to 4.8%
BitMine increased its holdings by 42,197 ETH within a week, with total holdings approaching the target line of 5% of Ethereum's circulating supply.
Navigating Web3 tides with focused insightsAuthor: The Defiant Team
Compiled by: TechFlow
TechFlow Editor's Note: BitMine Immersion Technologies (NYSE: BMNR) purchased 42,197 ETH worth approximately $73 million over the past week, bringing its total holdings to 5,742,237 ETH, accounting for 4.8% of Ethereum's circulating supply. This Ethereum treasury company, chaired by Tom Lee of Fundstrat, is steadily advancing towards its stated goal of a 5% holdings position with a consistent weekly accumulation pace.
Weekly Increase of $73 Million in ETH
BitMine Immersion Technologies (NYSE: BMNR), this Ethereum treasury company chaired by Fundstrat Chairman Tom Lee, purchased 42,197 ETH worth approximately $73 million over the past week. According to the holdings update released by the company on Monday, this increase brings BitMine's total ETH holdings to 5,742,237 ETH, accounting for approximately 4.8% of Ethereum's circulating supply.
BitMine's official account disclosed that the company's total crypto assets and other holdings are valued at $11.1 billion, including ETH holdings valued at $1,800 per coin, 206 BTC, an equity stake of $180 million in Beast Industries, and an equity stake of $71 million in Eightco Holdings (NASDAQ: ORBS). The company also holds $527 million in cash and marketable securities.
Staked Holdings Unchanged
Notably, BitMine's total staked ETH remains at 4,879,157 ETH, flat compared to the previous week—despite the growth in total holdings, the company did not increase its staked position.
This increase continues a consistent accumulation strategy, making BitMine the largest corporate ETH holder. The Defiant previously reported that Lee publicly defended the company's capital model in June (after insiders warned of a cash shortfall), and Lee has also defined crypto assets as a "wartime store of value" in public statements.
At this pace, BitMine is steadily advancing towards its stated goal—controlling 5% of the total ETH supply. BitMine stock trades under the ticker BMNR on the New York Stock Exchange.
The $73 million increase scale and the 4.8% circulating share are consistent across data from multiple independent market trackers, although BitMine's official post did not separately list this week's purchase amount from the cumulative total.
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