Million

Founder

Expand

Ethereum

Tom Lee

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 <h3 id="what-to-know">What to Know</h3>
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    <li>BitMine acquired 12,535 ETH, raising its Ethereum treasury to 6.04 million tokens, representing approximately 4.9% of circulating Ethereum supply.</li>
    <li>The company stakes 84% of its Ethereum holdings, projecting annual revenue of $369 million once its reserves become fully staked.</li>
    <li>BitMine reported $15.1 billion in total holdings, while Chairman Tom Lee linked cryptocurrency market weakness to broader investor caution.</li>
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 <p>BitMine Immersion Technologies increased its Ethereum treasury to 6.04 million ETH following another weekly acquisition, the company announced on October 19. According to its <a href="https://www.prnewswire.com/apac/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-6-04-million-tokens-and-total-crypto-and-total-cash--marketable-securities-holdings-of-15-1-billion-302912189.html?utm_source=chatgpt.com" rel="noopener noreferrer nofollow">official announcement</a>, BitMine purchased 12,535 ETH, bringing its total holdings to 6,041,481 tokens.</p><br>
 <p>The acquisition brings BitMine closer to its target of controlling 5% of Ethereum’s circulating supply, strengthening its position among corporate holders while increasing its exposure to ETH price movements and potential staking income. As of October 18, BitMine’s Ethereum holdings were valued at approximately $14.3 billion, based on ETH trading at $2,365, representing 4.9% of Ethereum’s circulating supply of 122.1 million tokens.</p><br>
 <p>BitMine’s latest purchase follows its previous reported balance of 6,028,946 ETH, reflecting an increase of 12,535 tokens over the week. The additional holdings bring the company closer to its stated accumulation target, although Ethereum’s circulating supply may change.</p><br>
 <p><strong>Also Read: </strong><a href="https://36crypto.com/revolut-secures-gibraltar-crypto-licence-to-expand-global-digital-asset-operations/" rel="noopener noreferrer nofollow">Revolut Secures Gibraltar Crypto Licence to Expand Global Digital Asset Operations</a></p><br>
 <h2 id="bitmine-projects-369-million-in-annual-staking-revenue-as-ethereum-holdings-expand">BitMine Projects $369 Million in Annual Staking Revenue as Ethereum Holdings Expand</h2>
 <p>Beyond accumulating Ethereum, BitMine has allocated a substantial portion of its cryptocurrency reserves to staking operations through its MAVAN platform. The company currently stakes 5,067,309 ETH through MAVAN and external staking partners, representing approximately 84% of its Ethereum holdings.</p><br>
 <p>These staked assets carry an estimated value of $12 billion, making staking a significant component of BitMine’s treasury strategy. Based on current staking conditions, the company projects approximately $309 million in annualized revenue from its existing staked holdings.</p><br>
 <p>BitMine estimates that fully staking its Ethereum balance could increase annualized revenue to approximately $369 million under prevailing conditions. This represents a potential $60 million increase, although actual earnings will depend on staking yields and network conditions.</p><br>
 <h2 id="bitmine-reports-15-1-billion-in-total-holdings-as-tom-lee-addresses-market-pressure">BitMine Reports $15.1 Billion in Total Holdings as Tom Lee Addresses Market Pressure</h2>
 <p>Alongside its Ethereum treasury,<a href="https://36crypto.com/bitmine-adds-12532-eth-as-ethereum-holdings-reach-15-3-billion/" rel="noopener noreferrer nofollow"> BitMine</a> reported combined cryptocurrency holdings, cash, marketable securities, and strategic investments worth approximately $15.1 billion. Its portfolio includes 215 Bitcoin, $582 million in cash and marketable securities, a $180 million investment in Beast Industries, and a $74 million stake in Eightco Holdings, reflecting its exposure to businesses beyond its primary Ethereum treasury.</p><br>
 <p>Meanwhile, Chairman <a href="https://36crypto.com/tom-lee-the-strategic-chairman-behind-bitmine-and-the-future-of-bitcoin-infrastructure/" rel="noopener noreferrer nofollow">Tom Lee</a> attributed recent cryptocurrency market weakness to geopolitical tensions, rising bond yields, and concerns surrounding artificial intelligence investments. Lee explained that investors reducing their exposure to risky assets across major markets have contributed to broader cryptocurrency selling pressure.</p><br>
 <p>“<em>Crypto is widely held in the US, Korea and Taiwan,</em>” Lee stated.</p><br>
 <p>The chairman explained that investors reducing risk exposure in these regions can create spillover pressure across cryptocurrency markets. BitMine’s latest acquisition leaves its Ethereum treasury approaching the company’s 5% supply target, with approximately 63,519 additional ETH required at the reported circulating supply. Further acquisitions and staking allocations will determine how the company advances its Ethereum accumulation strategy and projected staking revenue.</p><br>
 <p><strong>Also Read: </strong><a href="https://36crypto.com/binance-founder-cz-mocks-peter-schiff-over-years-of-failed-bitcoin-crash-predictions/" rel="noopener noreferrer nofollow">Binance Founder CZ Mocks Peter Schiff Over Years of Failed Bitcoin Crash Predictions</a></p><br>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://36crypto.com/bitmine-ethereum-holdings-reach-6-04-million-eth-nearing-5-supply-target/">BitMine Ethereum Holdings Reach 6.04 Million ETH, Nearing 5% Supply Target</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://36crypto.com">36Crypto</a>.</p>

BitMine Ethereum Holdings Reach 6.04 Million ETH, Nearing 5% Supply Target

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