Bitmine Immersion Technologies has expanded its Ether holdings to over 5.95 million ETH, which is valued at approximately $15.4 billion. This amount accounts for about 4.9% of the total circulating supply of Ether. The company's total treasury, including cash and other assets, is valued at roughly $15.8 billion.
The company has staked more than 5.06 million ETH, representing about 85% of its total Ether holdings. Based on current rates, this staking activity is projected to generate $334 million in annualized revenue. Bitmine noted that this strategy provides a recurring income stream, contrasting with Bitcoin treasury models that do not offer native staking yields.
In comparison, the Grayscale Ethereum Staking ETF currently has 84.6% of its Ether holdings staked. Following the announcement, Bitmine shares were trading slightly below $25, reflecting a 38% increase over the past month, despite a decline year-to-date.
Meanwhile, Strategy has paused its Bitcoin acquisitions for two consecutive weeks, maintaining its holdings at 845,050 BTC. Instead, the company focused on capital allocation toward its preferred stock, repurchasing 1.42 million shares of STRC for $139.3 million between September 8 and September 13.
