Overview
- Bitmine disclosed Monday it bought 71,524 ETH last week, lifting its holdings to 4,874,858 tokens, or about 4.04% of supply, and reaching 81% of its 5% goal.
- The firm has staked 3,334,637 ETH, roughly 68% of its trove, which it estimates is yielding about $212 million a year at current rates.
- Through its new MAVAN validator network, Bitmine plans to expand staking to partners and says full deployment could lift annual rewards to about $310 million.
- The company values its Ether at about $10.7 billion and puts total crypto, cash, and equity holdings at $11.8 billion, including $719 million in cash and stakes in Beast Industries and Eightco.
- Chairman Tom Lee framed ETH as a wartime store of value, noting a 17.4% gain since the Iran conflict began, and cited tokenization and AI demand as key drivers.