News
Bitmine adds 12,532 ETH, raising its holdings to 6.03 million
Bitmine announced that it purchased an additional 12,532 ETH last week, bringing its total Ethereum reserves to approximately 6.03 million tokens. The acquisition raises Bitmine’s share of the circulating Ethereum supply to about 4.9 %, close to its stated goal of holding 5 % of all ETH. The company now reports combined assets of $16.2 billion, which include its cryptocurrency holdings, cash, and other investments. Bitmine has also staked roughly 5.07 million ETH, representing 84 % of its Ethereum portfolio, and expects the staking operation to generate about $336 million in annual revenue. Chairman Tom Lee forecasted a historic cryptocurrency bull market driven by institutional adoption, artificial‑intelligence applications, and generational wealth transfers. Despite the accumulation, Ethereum’s price was near $2,521 at the time of reporting, reflecting a 6.52 % decline over the previous week. The article notes that corporate treasury purchases could tighten Ethereum’s available supply if demand strengthens.