BitMine expands Ethereum holdings to 5.79 million ETH

BitMine Immersion Technologies (ticker: BMNR) announces that its Ethereum holdings have surpassed the threshold of 5.79 million tokens. The company bought nearly 10,000 ETH in the past week, and the total value of crypto, cash and other investments now stands at $11.8 billion.

Ethereum is available at OKX and Bybit.

Nearly 10,000 ETH added in one week

According to an official press release, BitMine acquired exactly 9,946 ETH in the past week. This brings total holdings to 5,787,414 Ethereum tokens, representing approximately 4.8% of the entire circulating supply. That is a remarkably high percentage for a single company.

Ethereum is trading at $1.970 at the time of writing, up 4.7% in the last 24 hours. This price increase makes BitMine’s position even more valuable and underscores the scale of the company’s commitment to Ethereum.

85% staked and share buybacks

Notably, BitMine is not only buying ETH but also actively engaging in staking. Of the 5.79 million tokens, 4,917,189 ETH are staked, which represents about 85% of the total position. By staking, the company earns rewards on its holdings without selling the tokens, fitting a long-term strategy.

In addition to the ETH purchases, BitMine also bought back 6.1 million of its own shares in the same week. This signals management’s confidence in the company’s direction. The combined value of all assets, including crypto, cash, marketable securities and other investments, thus reaches a total of $11.8 billion.