BitMine Immersion Technologies said it had 5,067,309 ETH staked as of Aug. 30, valuing the position at $12.7 billion at an ETH price of $2,511. Staking, which locks crypto to earn network rewards, generated a seven-day annualized yield of 2.63%, implying $335 million in yearly staking revenue for the current staked position. BitMine said it acquired 53,501 ETH over the latest week, bringing total holdings to 5,901,112 ETH, or 4.9% of Ethereum’s 120.7 million supply. The company has previously set a goal of acquiring 5% of ETH. It estimated that annual staking rewards could reach $390 million if its entire ETH balance were staked through MAVAN and staking partners at the same yield. BitMine cautioned that the estimates use a seven-day annualized yield rather than a full-year result. The disclosure did not identify how much ETH is operated through MAVAN, BitMine’s Made in America Validator Network, and the $335 million figure refers to annualized staking revenue rather than specifically identified customer fee income. BitMine’s staked balance rose from 4,879,157 ETH in early July to more than 5 million by Aug. 9, then remained unchanged through Aug. 30. Chairman Tom Lee said BitMine had staked more ETH than any other entity, but the post provided no comparison set, preventing The Defiant from independently assessing the claim.