Bitmine Immersion Technologies, a Connecticut-based firm with the world’s largest Ethereum treasury, now holds nearly 4.5% of ETH’s circulating supply and is 89% of the way to its “Alchemy of 5%” goal, reached in less than a year.
The growth is driven by Bitmine’s purchase of 111,942 ETH over the past week, according to a Tuesday press release.
Its total crypto and cash holdings now stand at $12.3 billion, including about 5.4 million ETH, 203 Bitcoin, stakes of $200 million in Beast Industries and $95 million in Eightco Holdings, plus $444 million in cash.
The company currently has about 4,7 million ETH staked. MAVAN, Bitmine’s Made in America VAlidator Network, has emerged as a flagship Ethereum staking platform designed for institutional-grade security, reliability, and staking performance.
With full deployment, Bitmine estimates annualized staking rewards could reach $276 million using a 2.75% 7-day BMNR staking yield.
