Bitmine Rapidly Closes In on 5% of Ethereum Supply

Bitmine, an industry leader in cryptocurrency and Ethereum holdings, is rapidly approaching its ambitious goal of owning 5% of all Ethereum's circulating supply. With a recent purchase of 52,203 ETH worth approximately $90 million, Bitmine has brought its total holdings to 4.7%, with only the final 0.3% needed to reach its target.

According to Thomas 'Tom' Lee, Chairman of Bitmine, the company aims to continue a steady pace of accumulation throughout 2026. This strategy is not simply about hoarding ETH and waiting for price appreciation but rather building a staking operation that generates real cash yields, which in turn funds dividend obligations on preferred shares.

The staking side of the business has grown substantially, with Bitmine currently having 4,718,677 ETH staked, representing more than 83% of its total holdings. The company reports annualized staking revenue of approximately $223 million, projected to climb to around $268 million per year once all of its ETH is fully staked.