BitMine Adds 9,926 ETH, Holds 5.8M ETH With 87% Staked

BitMine acquired 9,926 Ethereum over the past week, expanding its ETH position to 5,815,164 tokens, which the company said represents about 4.8% of Ethereum’s supply. 

Of that portfolio, 5,067,309 ETH is staked, representing roughly 87% of the company’s Ethereum holdings. BitMine estimates the staked position will generate about $250 million in annualized revenue.

The company separately bought back 1.7 million shares during the week. Its cumulative share repurchases since July now exceed 20.8 million shares. 

As of Aug. 16, BitMine held $11.4 billion across crypto assets, cash, marketable securities, and other investments.

Source: Bitmine Immersion Technologies