BitMine Buys $52M More ETH, Slows Pace Toward 5% Supply Goal
BMNR•BitMine added 26,497 ETH worth $52 million last week, raising its holdings to 5.42 million ETH (4.48% of circulating supply) while slowing weekly purchases by over 75% after a near-112,000 ETH acquisition. The firm’s treasury now comprises $10.6 billion in ETH, $446 million in cash, 203 BTC and generates $258 million annualized staking revenue.
1. Recent Ethereum Acquisition
BitMine Immersion Technologies purchased 26,497 ETH, valued at approximately $52 million, during the latest trading week. This represents a significant reduction from its acquisition of nearly 112,000 ETH just one week earlier, reflecting a deliberate moderation of its buy-the-dip strategy.
2. Treasury Holdings and Composition
The company’s Ethereum treasury now totals 5,416,901 ETH, equivalent to 4.48% of the circulating supply. In addition to its $10.6 billion ETH reserve, BitMine holds $446 million in cash and 203 BTC valued at $14.5 million, providing substantial liquidity.
3. Acquisition Pace Versus Supply Target
BitMine’s slowing of purchases follows its stated goal of acquiring no more than 5% of Ethereum’s supply. The firm is now roughly 90% of the way toward that threshold, opting to moderate accumulation to avoid overshooting its strategic cap.
4. Staking Revenue and Market Reaction
BitMine’s staking operations yield $258 million in annualized revenue, with projected rewards rising to $300 million by year-end, diversifying its income streams. Meanwhile, shares have fallen over 34% in the past six months and trade more than 80% below their 52-week high as Ethereum prices remain below $2,000.
