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BitMine increases ETH holdings by about $73 million to 4.8% of supply

The Ethereum treasury company says its total ETH balance now stands at 5,742,237 ETH, while its staked ETH remains unchanged at 4,879,157 ETH.

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BitMine Immersion Technologies (NYSE: BMNR) said it bought 42,197 ETH worth roughly $73 million over the past week, according to a holdings update posted Monday, taking its total to 5,742,237 ETH. That balance is about 4.8% of Ethereum's circulating supply, making the company a major corporate ETH holder, The Defiant reported.

In the same disclosure, BitMine said its broader crypto and other holdings total $11.1 billion, including ETH valued at $1,800 per coin, 206 BTC, a $180 million stake in Beast Industries, and a $71 million stake in Eightco Holdings (NASDAQ: ORBS). The update also put cash and marketable securities at $527 million.

BitMine reported that its staked ETH total is 4,879,157 ETH, unchanged from the prior week, even as its overall ETH balance rose. The company also reiterated a longer-term target of controlling 5% of ETH's total supply as a benchmark for its treasury strategy.

The purchase continues BitMine's buildup toward that 5% threshold. The Defiant noted that the weekly $73 million figure and the 4.8% of supply calculation were consistent across multiple market trackers monitoring BitMine's disclosures.

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