Bitmine Adds 12,535 ETH as Ether Treasury Climbs to 6.04 Million Tokens

Bitmine Immersion Technologies grew its ether treasury to 6,041,481 ETH after buying 12,535 tokens over the past week, the company said in a statement on Monday. At $2,365 per ETH, the holdings were worth about $14.3 billion as of October 18. That gives Bitmine roughly 4.9% of the 122.1 million ETH in circulation. Ether itself traded above $2,400 on Monday, up 0.43% over 24 hours.

Bitmine ETH Staking and Annual Revenue

Of the total, 5,067,309 ETH, valued at about $12 billion, is staked through Bitmine’s MAVAN platform and its staking partners. That equals 84% of the balance. The company projects annualized staking revenue of $309 million at current levels, rising to $369 million once all holdings are staked.

Bitmine Crypto, Cash and Investment Holdings

Outside of ether, Bitmine reported 215 bitcoin, a $180 million stake in Beast Industries, a $74 million investment in Eightco Holdings and $582 million in cash and marketable securities. Its combined crypto, cash, marketable securities and other investments came to $15.1 billion as of October 18.

Tom Lee on Crypto Market Pressure

Bitmine Chairman Tom Lee said recent weakness in crypto came from investors cutting risk amid geopolitical tensions, rising bond yields and worries about AI funding and model safety. He noted that crypto is widely held in the US, Korea and Taiwan, so when investors in those regions step back, the pressure spills over into crypto markets.