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BitMine buys $73 million of ETH, lifting holdings to 4.8% of supply

The Ethereum treasury company now holds 5,742,237 ETH, after purchasing 42,197 ETH in the past week, while its staked ETH balance remains unchanged.

Reported · Written up by our desk · Market Structure

BitMine Immersion Technologies, the Ethereum treasury company chaired by Fundstrat's Tom Lee, added 42,197 ETH worth about $73 million over the past week, according to a holdings update posted Monday, published by The Defiant.

The purchase raises BitMine's total ETH holdings to 5,742,237 ETH, or about 4.8% of Ethereum's circulating supply, according to the company's disclosure as summarized by The Defiant. The update values the ETH position at roughly $1,800 per coin and puts BitMine's total crypto and other holdings at $11.1 billion.

BitMine also reported that its staked ETH total stands at 4,879,157, unchanged from the prior week, even as its overall ETH balance increased. The same disclosure lists $527 million in cash and marketable securities, The Defiant said.

The article notes the buildup has kept BitMine positioned as the largest corporate holder of ETH and describes the weekly accumulation as part of a stated goal to reach control of 5% of ETH's total supply as a benchmark for its treasury strategy.

Latest closeEthereum $1,917.36 ▲0.5%

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