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09/03/26 14:24 UTC-04

BitMine increased its crypto reserves by 60,976 ETH

Bitmine Immersion Technologies has expanded its position in Ethereum ($ETH). According to the company’s press release, over the past week it purchased an additional 60,976 $ETH, exceeding its usual average acquisition levels.

Portfolio structure

At present, the corporation holds approximately 4.534 million $ETH, which represents about 3.76% of the total market supply of the asset.

With an average price of $1,965 per ETH, the total value of the company’s cryptocurrency reserves, $1.2 billion in cash, and stakes in venture projects has reached $10.3 billion.

In addition to Ethereum, the company also holds:

  • 195 BTC
  • investments in Beast Industries worth $200 million
  • investments in Eightco Holdings worth $14 million

Tom Lee, chairman of the board, noted that Bitmine is intentionally accelerating its accumulation pace, as it is unclear where the market bottom will form.

Staking revenue

A significant portion of the company’s assets is used to generate passive income. About 6% of all Ethereum reserves — more than 3 million coins — are already locked in staking.

Bitmine’s current annual revenue from this activity amounts to $174 million. According to Lee, once the company fully deploys its own MAVAN validator network, the expected income could rise to $259 million per year.

At present, the company’s operational yield stands at 2.91%, which is slightly higher than the market average CESR rate of 2.84%.

See also: "Bitcoin balances around $70,000 amid rising risk of a 35% U.S. market crash"

#BitMine #Ethereum (ETH) #Buy

Editor: Alyona Nabok
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