Bitmine Immersion Technologies increased its ether treasury to 5,797,813 ETH, giving it control of 4.8% of the world's second-largest cryptocurrency, the company said Monday.
At $1,880 per ETH, the Ethereum treasury is worth roughly $10.9 billion, positioning Bitmine (BMNR) as the largest corporate ether holder globally and the second-largest corporate crypto treasury overall, trailing only Strategy's $57 billion bitcoin position, according to a statement.
The latest figure marks an increase of 10,399 ETH over the prior week and places Bitmine 96% of the way toward its stated "alchemy of 5%" target, representing 5% of ether's 120.7 million-token supply.
Of the total ETH held, 4,917,189 tokens, valued at $9.2 billion, are staked through the company's MAVAN platform and staking partners.
The company projects annual staking revenues of $247 million.
