Bitmine Immersion Technologies said its Ethereum holdings reached 5,180,131 ETH as of May 3.
summary
- Bitmine added 101,745 ETH last week, bringing Ethereum’s total holdings to 5.18 million tokens now.
- Staked ETH reached 4.36 million tokens, giving Bitmine around $10.2 billion in staked assets.
- Ethereum Foundation sales added context as Bitmine approaches its supply target of 5% of ETH.
The company valued the transaction at $2,336 per ETH and said the holdings were worth about 4.29% of the total supply of ETH.
Company He said Its total cryptocurrency, cash and other listed holdings were $13.1 billion. This number included 5.18 million Ethereum, 200 Bitcoin, $700 million in cash, and $200 million. A stake in Beast IndustriesAnd a share of $83 million Etco Holding Company.
Tom Lee says the pace of ETH buying has continued
Bitmine acquired 101,745 ETH last week, Chairman Thomas “Tom” Lee said. He described the purchase as part of the company’s ongoing accumulation strategy.
Lee also said that Bitmain has maintained a faster pace of buying Ethereum for four consecutive weeks. He stated that Ethereum was in the “final stages” of a “mini-crypto winter,” with the strategy linking Ethereum’s role in tokenization and general blockchain use.
Meanwhile, Bitmain reported 4,362,757 ETH staked as of May 3. The company estimated the betting position at about $10.2 billion, based on the same Ethereum price of $2,336.
The company said its MAVAN platform, short for Made in America Validator Network, is designed to support its Ethereum treasury. Bitmine said the platform also aims to serve institutional investors, custodians and ecosystem partners looking for staking services for Ethereum.
Li said Bitmine’s annual hedging revenue reached $297 million. He also said that the company’s ETH stakes represent more than 84% of its holdings of 5.18 million ETH.
Ethereum Foundation sales add context
Bitmine’s latest update came after another Ethereum Foundation sold the company. Crypto news I mentioned The organization sold 10,000 ETH to Bitmine at an average price of $2,292 per coin, worth about $22.9 million.
The report said that this is the third direct sale that the organization has made to Bitmine in two months. This followed the sale of another 10,000 ETH one week ago and the sale of 5,000 ETH in March.
Crypto.news also reported that Bitmine has recently done so Bet ETH is worth about $508 million, according to Arkham tracking activity. At the time, Bitmine’s holdings of ETH exceeded 5 million tokens, making it among the largest institutional holders of Ethereum.
Bitmine said it remains the largest ethereum treasury and the second-largest cryptocurrency treasury globally after Strategy. The company also said it is now 86% of the way towards achieving its goal Declared goal It owns 5% of the total supply of ETH.
