BitMine Nears 5% of Ethereum Supply After $237M ETH Purchase

• BitMine bought $237 million in Ether last week, pushing its Ethereum holdings above 5.39 million ETH.
• Ethereum staking is becoming a major revenue stream for BitMine as it expands its MAVAN platform.
• Crypto treasury firms are increasing staking activity as losses continue to pressure the sector.

BitMine Immersion Technologies bought 111,942 ether worth about $237 million last week, increasing its Ethereum holdings to 5.39 million ETH. The company now controls roughly 4.47% of Ethereum’s circulating supply, according to its latest disclosure. The purchase comes as the firm continues to build its position as the largest corporate holder of Ethereum.

BitMine said in an announcement that its total crypto assets, cash, and strategic investments now stand at $12.3 billion. The portfolio includes 5.39 million ETH, 203 Bitcoin, $444 million in cash, and equity stakes in …

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