Bitmine Immersion Technologies (BMNR) reported on Monday that it bought nearly 51,000 more ETH tokens last week, increasing its holdings to 4.474 million.
“In the midst of this ‘mini-crypto winter,’ our focus remains on methodically executing our financial strategy and steadily acquiring ETH and in turn optimizing the return on our ETH holdings,” said Chairman Tom Lee.
The company said it now has 3,040,483 ETH staked, worth about $6 billion at current prices. Lee said annual betting revenue is $172 million. At full scale, stake rewards could reach $253 million annually based on a 2.86% yield over the past seven days, Lee continued.
The company holds 4,473,587 ether (ETH), worth $1,976 per token, along with 195 bitcoin and $868 million in cash, as well as a $200 million stake in Beast Industries and a $14 million investment in Eightco Holdings. Bitmine said its ether position represents 3.71% of Ethereum’s 120.7 million token supply.
Lee added that the company is developing its Made in America Validator Network, or MAVAN, a staking platform scheduled to launch in early 2026. Bitmine said it is working with three staking providers as it builds the network.
