Overview
- BitMine, which disclosed Monday it bought 101,627 ETH last week for about $230 million, now holds 4.97 million coins in its treasury.
- At roughly 82% of its goal to own 5% of ether’s supply, the firm could reach the mark by mid-summer 2026 if current buying persists.
- Staking, which locks coins to help run the Ethereum network, has produced about $221 million in yearly rewards on more than 3.3 million ETH through BitMine’s MAVAN validator network.
- Total assets across crypto, cash, and equity stakes stand near $12.9 billion, including 199 bitcoin and about $1.12 billion in cash and investments such as Beast Industries and Eightco.
- The company remains one of the few large buyers still adding ether, a stance Chairman Tom Lee says reflects his view that the recent “mini-crypto winter” is nearing its end.