Bitmine Reaches New Milestone in Ethereum Holdings

Bitmine Immersion Technologies (BMNR) has announced that its Ethereum holdings have reached 5.77 million tokens, representing 4.8% of the total ETH supply of 120.7 million.

In just 12 months, Bitmine has made significant progress towards its goal of acquiring 5% of the ETH supply, reaching 96% of this target.

As part of its innovative digital asset strategy, Bitmine is leveraging native protocol-level activities including staking and decentralized finance mechanisms to build its treasury reserves.

The company's total crypto and cash holdings now stand at $11.3 billion, with a portion of its ETH staked on the MAVAN platform, generating an annualized yield of 2.70%.