Daily Market Updates: Bitmine increases its Ethereum treasury by 12,532 ETH

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Bitmine increases its Ethereum treasury by 12,532 ETH

Bitmine said 84% of its ETH balance is staked, and it projected annualized staking revenue of $336 million based on a 7-day yield of 2.61%.

Reported · Written up by our desk · Ethereum

Bitmine Immersion Technologies added 12,532 ETH over the past week, bringing its Ethereum treasury to 6,028,946 tokens, according to The Block.

The company said the holdings represent 4.9% of the total circulating Ether supply of 122.1 million tokens, valuing the position at about $15.3 billion based on an ETH price of $2,544.

Bitmine reported that 5,067,309 ETH, or 84% of its balance, is staked through its MAVAN platform and staking partners.

It projected annualized staking revenues of $336 million using a seven-day annualized yield of 2.61%, with the figure expected to reach $400 million once its ETH holdings are fully staked.

Latest closeEthereum $2,434.28 ▼4.0%

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Bitmine increases its Ethereum treasury by 12,532 ETH

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