Bitmine Immersion Technologies has crossed the 6 million ETH threshold, pushing the total value of its Ethereum treasury to roughly $16 billion. Listed on the NYSE under the ticker BMNR, the company now controls nearly 5% of Ethereum’s entire circulating supply, making it the largest corporate ETH holder in the world. Over 85% of these holdings are staked through its proprietary MAVAN platform, projected to generate between $211 million and $357 million in annualized revenue. Despite slowing down from its peak of over 100,000 ETH per week, Bitmine added 17,362 ETH last week, worth approximately $47 million at the current price of $2,700. ARK Invest and Founders Fund are among the institutional investors that have taken positions in BMNR.
Source: Read the original article
