Bitmine Immersion Technologies has expanded its ether holdings to 5.62 million tokens as of June 14, accounting for about 4.66% of Ethereum’s total supply. The company added 76,881 ETH over the past week, bringing the value of its treasury to approximately $9.66 billion based on an ether price of $1,718.
Bitmine nears 5% Ethereum supply target
The latest accumulation cements Bitmine as the largest corporate holder of ether and the second-largest digital asset treasury overall, behind Strategy’s $54 billion bitcoin position. The firm said it is now 93% of the way toward its goal of controlling 5% of Ethereum’s total supply, currently estimated at 120.7 million tokens.
Chairman Lee said the company plans to maintain a rapid pace of purchases, aiming to reach the 5% threshold by 2026.
Ether traded at $1,765 on Monday, rising 5.87% over the previous 24 hours, though still 64.3% below its August 2025 peak of $4,946.05.
Staking strategy drives revenue growth
A significant portion of Bitmine’s holdings is actively deployed on the network. The company reported that 4,718,677 ETH, roughly 83% of its total holdings, is staked.
This staking operation generates a 7-day yield of 2.79%, translating into projected annual revenue of about $219 million. That figure could rise to $269 million as the firm scales its MAVAN validator system.
The approach reflects a broader shift among corporate players toward using digital assets not just as treasury reserves but as income-generating instruments tied to blockchain infrastructure.
Broader balance sheet and equity performance
Beyond ether, Bitmine holds 204 bitcoin, a $180 million stake in Beast Industries, and an $88 million position in Eightco Holdings. The company also reported $502 million in cash and marketable securities.
Despite the expansion in digital asset holdings, Bitmine’s shares closed Friday at $16.11, down 2.48% for the session.
Market impact and strategic implications
Bitmine’s growing control of Ethereum supply highlights a strategy focused on deep integration into the network’s operations. By staking a large share of its holdings, the company converts its treasury into a steady revenue stream while also reducing liquid supply in the market.
The firm’s consistent and publicly stated buying activity creates a predictable source of demand that traders may factor into pricing expectations. Continued accumulation at this scale could influence supply dynamics, particularly during periods of market uncertainty.
At the same time, the concentration of a large number of validators under one entity introduces operational and network considerations, as performance and security directly affect both revenue generation and network stability.
The divergence between Bitmine’s declining share price and ether’s recent price rebound suggests equity traders are weighing additional factors, including broader market sentiment and the company’s non-crypto holdings.
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