Despite continued weakness across the cryptocurrency market, Ethereum treasury firm Bitmine has continued its aggressive accumulation strategy, increasing its ETH holdings to 5.54 million coins, representing approximately 4.59% of Ethereum’s total circulating supply.
The company added 126,971 ETH over the past week alone, reinforcing its position as the largest corporate holder of Ethereum.
Multi-Billion Dollar Treasury Continues to Grow
According to Bitmine’s latest disclosure, the company now manages assets valued at roughly $9.6 billion across cryptocurrencies, cash reserves, and strategic investments.
Its portfolio includes 5.54 million ETH valued at around $1,630 per token, 204 BTC, a $180 million stake in Beast Industries, an $88 million investment in Eightco Holdings, and approximately $247 million in cash.
The firm’s Ethereum holdings now account for nearly one twentieth of the network’s entire supply, a milestone achieved during a period when many market participants have been reducing exposure amid falling prices.
Tom Lee Remains Bullish on Ethereum
Bitmine Chairman Tom Lee said recent market weakness does not reflect the underlying strength of Ethereum’s long term outlook.
Lee argued that advances in artificial intelligence will increase demand for decentralized and highly secure blockchain networks, positioning Ethereum as a critical piece of future digital infrastructure.
He also reiterated his view that the crypto industry remains in the early stages of what he describes as a “crypto spring” cycle.
According to the company, Bitmine is now 92% of the way toward reaching its long stated goal of controlling 5% of Ethereum’s total supply, a target it has approached in less than a year.
More Than 85% of ETH Holdings Are Staked
Bitmine revealed that approximately 4.72 million ETH, worth about $7.7 billion, has been committed to staking.
As a result, more than 85% of the firm’s Ethereum reserves are now generating staking rewards.
The company reported a seven day staking yield of 2.99%, with annualized staking revenue estimated at around $230 million. At greater scale, total rewards could potentially climb to $270 million per year.
New Preferred Share Offering Could Fund More ETH Purchases
Last week, Bitmine filed plans to launch a public offering of 3 million shares of its 9.50% Series A Perpetual Preferred Stock.
According to regulatory filings, the proceeds could be used for a range of corporate purposes, including acquiring additional Ethereum and other digital assets, expanding staking and validator infrastructure through its MAVAN platform, funding working capital requirements, supporting investments within the Ethereum ecosystem, and potentially repurchasing shares under its existing buyback program.
The preferred shares carry a 9.5% annual dividend based on a $100 stated value. Unpaid dividends accumulate over time, and the effective rate may increase to as much as 15% if payments are deferred.
Bitmine has applied to list the shares on the NYSE under the ticker symbol BMNP.
Strategy Continues Buying Bitcoin
Bitmine remains one of the few major digital asset treasury firms still actively increasing its crypto exposure while many competitors have either paused purchases or reduced holdings amid the market downturn.
The company currently holds the largest Ethereum treasury globally and ranks second among corporate digital asset treasuries overall, behind Strategy.
Recently, Strategy added another 1,550 BTC to its balance sheet at an average purchase price of $65,332 per coin. The acquisition pushed the company’s total Bitcoin holdings to 845,256 BTC, accumulated at an average cost of $75,680.
Notably, Strategy also drew attention last week after selling a small portion of its Bitcoin holdings for the first time since 2022, a move that briefly sparked concerns among investors before the company resumed buying.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
