Bitmine Buys 12,532 More Ether as Holdings Top 6.02 Million ETH

Bitmine, the world’s largest corporate holder of Ether, bought another 12,532 ETH over the past week, lifting its total holdings to 6,028,946 ETH. That equals 4.9% of Ether’s circulating supply of 122.1 million tokens, putting the company at 99% of its goal of accumulating 5% of all ETH.

Bitmine has bought Ether every week since launching its treasury strategy on June 30 last year. Its total assets, including crypto, cash, marketable securities and strategic investments, reached $16.2 billion as of October 12.

Staked Holdings Generate $336 Million in Annual Income

Based on an Ether price of $2,544, the company’s ETH stash is worth about $15.3 billion. It has staked 5,067,309 ETH, or 84% of its holdings, worth about $12.9 billion. The seven day annualized yield stands at 2.61%, projecting roughly $336 million in annual income, or $400 million if all Ether were staked.

Tom Lee Eyes Biggest Bull Market on Record

Chairman Tom Lee said Bitmine is positioned to outperform in the bull run he expects ahead, citing tokenization, wealth transfer and supply absorption by digital asset treasury firms as key drivers. He noted Ether outperformed the S&P 500 by 6,832 basis points in the third quarter despite macro headwinds. Bitmine remains the second largest digital asset treasury company globally after Strategy.