BitMine Ethereum Holdings Reach 4.8 Million ETH, Nearly 4% of Total Supply

BitMine Immersion Technologies, chaired by Tom Lee, purchased 71,252 ETH worth approximately $152 million in its largest weekly acquisition since December, bringing total holdings to 4.8 million ETH valued at $10.3 billion—nearly 4% of Ethereum's entire circulating supply. The company has staked 69% of its holdings and projects $282 million in annual staking revenues. While Ethereum gained 5.4% to trade around $2,145 and BitMine shares rose 6% on Monday, the stock remains down 67% over six months. Lee attributes market pressure to war but expects Ethereum to benefit from Wall Street tokenization and AI systems requiring neutral blockchains.

BitMine's Ethereum Accumulation Strategy

• ▪BitMine Immersion Technologies' purchase of 71,252 ETH was valued at approximately $152 million.
• ▪BitMine Immersion Technologies holds 3.98% of the entire circulating Ethereum token supply.
• ▪69% of BitMine Immersion Technologies' total ETH holdings are staked and earning staking rewards.
• ▪BitMine Immersion Technologies holds more than 4.8 million ETH as of the report date.
• ▪BitMine Immersion Technologies estimates it will earn around $282 million in annual revenues from staking when its full complement of Ethereum is staked.

Ethereum's Market Performance and Price Movement

• ▪BitMine Immersion Technologies shares (BMNR) were up around 6% since the opening bell on Monday.

Perspective of BitMine Immersion Technologies investors

• ▪BitMine Immersion Technologies shares have lost 67% of their value in the six months prior to the report despite holding $10.3 billion in Ethereum.

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