Bitmine Acquired 12,535 Ethereum Over The Past Week
The world's largest corporate owner of Ethereum now owns 6,041,481 ETH, equal to 4.9% of the cryptocurrency's circulating supply of 122.1 million digital tokens.
BitMine's Ethereum holdings are currently worth $14.3 billion U.S. based in the current price of the cryptocurrency. The company has a stated goal of owning 5% of ETH's circulating supply.
In a statement, Bitmine said that it has reached 99% of its goal, having bought Ethereum every week since launching its crypto treasury strategy on June 30, 2025.
Bitmine has now staked 5,067,309 ETH, worth about $12 billion U.S. That represents 84% of its total holdings.
The annualized yield on the staked Ethereum is 2.58%, and the company projects annual income of about $309 million U.S. from staked rewards.
Bitmine Chairman Tom Lee said investors' appetite for risk has weakened in recent weeks as concerns grow over artificial intelligence (A.I.) investments.
However, Lee described the recent pullback in crypto prices as a buying opportunity. He added that Bitmine has strengthened its competitiveness over the past year despite a "crypto winter."
Bitmine is currently the world's largest Ethereum treasury company and remains the second-largest digital-asset treasury company after Strategy (NASDAQ: $MSTR).
Ethereum is trading at $2,425 U.S. on Oct. 19. BMNR stock has declined 60% over the past 12 months to trade at $21.66 U.S. per share.
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