BitMine Buys 26,497 More Ether, Pushing Holdings to 5.42 Million ETH
Summary
- BitMine said it bought an additional 26,497 Ether, raising its total holdings to 5,416,901 ETH, or 4.49%% of circulating supply.
- Chairman Tom Lee said BitMine expects to achieve its goal of holding 5%% of Ethereum’s total supply in 2026.
- BitMine said it is staking about 4.7 million ETH and generating about $258 million in annual revenue, while maintaining a positive view on Ethereum’s long-term growth potential.
BitMine, a corporate Ether holder, has increased its holdings to more than 5.41 million ETH after another purchase.
BitMine recently bought 26,497 ETH, The Block reported on June 1. The purchase was worth about $52 million at current prices.
The latest buy brought BitMine’s total Ether holdings to 5,416,901 ETH. That equals 4.49% of Ethereum’s roughly 120.7 million circulating supply.
Chairman Tom Lee said the company expects to achieve its goal of holding 5% of Ethereum’s total supply in 2026.
BitMine has slowed the pace of its purchases in recent weeks, but it continues to accumulate Ether. The company bought about 112,000 ETH last week as well.
BitMine’s Ether holdings are valued at about $10.6 billion. That makes it the second-largest digital-asset treasury company after Strategy, which holds Bitcoin.
The company is staking about 4.7 million ETH from its holdings. It said that generates about $258 million in annual staking revenue.
Lee said the market is still not fully reflecting improving fundamentals for the Ethereum network. He added that BitMine remains positive on Ethereum’s long-term growth potential.
