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Bitmine Immersion Technologies bought 71,672 ETH in one week, taking advantage of the temporary dip of the price below 2,200 dollars, while it was thought the firm might slow its acquisitions. This new purchase now brings the group’s reserves to 5,278,462 ETH, approximately 11.5 billion dollars at the current price.
Thus, this amount already represents 4.37 % of the total Ethereum supply estimated at 120.7 million ETH. Tom Lee, Chairman of Bitmine’s Board of Directors, states that the company could reach its major goal as early as next year: “Bitmine should reach the symbolic threshold of 5 % of the total Ethereum supply during the year 2026”.
The company now claims the status of the largest Ethereum treasury in the world, ahead of all institutional players exposed to the asset. Listed on the NYSE under the ticker BMNR, Bitmine also shows an average daily volume of 857 million dollars over five days, a sign of growing interest from traditional markets for this Ethereum-centered strategy.
A large portion of the ETH held by Bitmine is not idle. Of the 5.28 million ETH controlled by the company, 4,712,917 ETH are currently staked, valued at nearly 10.3 billion dollars. This activity already generates an estimated annualized yield of 289 million dollars, based on a weekly annualized rate of 2.80%.
This gradual concentration of supply in the hands of listed companies could also revive debates on network centralization, while Wall Street accelerates its entry into the Ethereum ecosystem.
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