BitMine boosts Ethereum holdings to 5,742,237 ETH, about 4.8% of supply

BitMine added about $74 million worth of Ethereum last week, taking its treasury to 5,742,237 ETH, or about 4.8% of the 120.7 million ETH in supply, as the company moved closer to its stated goal of owning 5% of all ETH in circulation. The company said it is now about 95% of the way to that target and expects to reach it before year-end, which would require roughly 6.04 million ETH if supply stays near current levels. More than 4,879,157 ETH, or about 85% of its holdings, is staked, with projected annualized staking income of about $235 million at a seven-day yield of 2.68%. Chairman Thomas Lee said investors have become more optimistic about passage of the CLARITY Act, with prediction markets implying roughly 50% odds, and argued regulatory clarity would be particularly important for smart-contract platforms such as Ethereum. BitMine also said Ethereum layer-2 networks are already handling USDC transactions for companies including Shopify and Visa. The company reported 206 Bitcoin, $527 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings, bringing total holdings to about $11.1 billion. BitMine said it is the largest corporate holder of Ethereum and the second-largest digital asset treasury company behind Michael Saylor’s Strategy.