Bitmine Immersion Technologies announced on Tuesday that it has increased its Ethereum treasury to 5,929,198 ETH after acquiring 28,086 tokens over the past week.
At $2,495 per ETH, the holdings are worth about $14.8 billion. Bitmine (BMNR) now holds 4.9% of Ethereum's 122.0 million token supply, the company said in a statement.
Of the total tokens held, 5,067,309 ETH, valued at $12.6 billion, are staked via the company's MAVAN platform and staking partners, representing 85% of its balance. Bitmine projected annualized staking revenues of $330 million based on a 7-day annualized yield of 2.61%.
Beyond ether, Bitmine reported 211 bitcoin, a $180 million stake in Beast Industries, a $91 million stake in Eightco Holdings, and total cash and marketable securities of $593 million. Combined crypto, cash, and other assets totaled $15.7 billion as of Sept. 7.
Chairman Tom Lee reiterated the company's conviction in ether (ETH), saying the asset outperformed the S&P 500 by 5,430 basis points in the third quarter through Sept. 4.
