Overview
- BitMine, which disclosed Monday it bought 101,627 ETH last week for roughly $230–$235 million, logged its biggest weekly haul since December and lifted its holdings to 4,976,485 ETH.
- The position equals about 4.12% of Ethereum’s circulating supply, which the company says puts it near 82% of its goal to own 5% of all ETH.
- Roughly 3.33 million ETH is now staked through BitMine’s MAVAN validator network, generating about $221 million in annualized rewards at a recent seven‑day yield of 2.88%.
- Total crypto, cash, and equity assets are about $12.9 billion, though a recent quarterly filing showed a $3.8 billion net loss largely from unrealized marks on ETH prices.
- Chairman Tom Lee frames the accumulation as a geopolitical hedge and says the current buying pace could reach 5% by mid‑summer, a path that depends on price moves, market liquidity, and available funding.