Five Percent of Ethereum Supply Held by a Single Company: BitMine Continues Accumulation

BitMine has increased its total reserves to 5,901,112 ETH—approximately 4.9 percent of the Ethereum supply—by purchasing an additional 53,501 ETH over the past week.

BitMine’s Ethereum accumulation continues to grow. According to a company statement reported by Wu Blockchain, BitMine purchased 53,501 ETH in the last week, bringing its total holdings to 5,901,112 ETH. This amount represents approximately 4.9 percent of the total Ethereum supply.

The new purchase allowed the company to maintain its Ethereum reserves above the 5.9 million ETH threshold. BitMine has also locked up a significant portion of its assets to generate income on the network. According to data reported by the company, 5,067,309 ETH—about 86 percent of the total reserves—has been staked.

BitMine Expects $335 Million in Staking Revenue

BitMine calculated that if current conditions persist for a year, the annualized revenue from staking activities could reach approximately $335 million. This figure does not represent realized income, but rather the company’s projection based on its current staking volume and rates.

The company’s balance sheet includes $541 million in cash and securities. The total value of its crypto assets, cash, securities, and other investments was announced at $15.6 billion as of August 30. Consequently, the weekly ETH purchase stood out alongside BitMine’s expanding Ethereum reserves and its strategy of using these assets to generate income.