Bitmine Immersion Technologies acquired 12,535 Ethereum (ETH) over the past week, bringing its total holdings to 6,041,481 ETH, representing 4.9% of the cryptocurrency’s circulating supply. The company’s Ethereum treasury is valued at approximately $14.3 billion based on an ETH price of $2,365. Chairman Tom Lee stated that Bitmine is positioned to outperform the upcoming crypto bull market, citing the firm’s strengthened competitive position during the prolonged market downturn. Approximately 84% of its Ethereum holdings, totaling 5,067,309 ETH, are currently staked through its MAVAN platform, potentially generating $309 million in annualized staking revenue, with a maximum of $369 million if the entire treasury were staked at the current 2.58% annual yield.
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