Bitmine Immersion Technologies acquired 27,180 ETH last week, bringing its holdings to over 5.95 million ETH, worth approximately $15.4 billion and representing about 4.9% of Ether’s circulating supply. The company has staked over 5.06 million ETH, generating estimated annualized revenue of $334 million at current rates. With approximately 85% of its ETH staked, Bitmine is converting its crypto treasury into a recurring revenue stream, outperforming Bitcoin-holding companies that lack native staking yields. For comparison, Grayscale Ethereum Staking ETF (ETHE) has staked 84.6% of its Ether holdings.
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