Bitmine adds 12,535 ETH as treasury reaches 6.04 million tokens

Bitmine Immersion Technologies increased its Ethereum treasury to 6,041,481 ETH after acquiring 12,535 ETH over the past week, the company said in a statement on Monday.

At $2,365 per ETH, the holdings were worth approximately $14.3 billion as of Oct. 18. Bitmine now owns 4.9% of Ethereum's circulating supply of 122.1 million tokens, according to the statement.

Of the total, 5,067,309 ETH valued at $12 billion are staked through Bitmine's MAVAN platform and staking partners, representing 84% of its balance. The company projected annualized staking revenue of $309 million at current levels, with that figure rising to $369 million once holdings are fully staked.

Beyond ether, Bitmine reported 215 bitcoin, a $180 million stake in Beast Industries, a $74 million investment in Eightco Holdings, and $582 million in cash and marketable securities. The company's combined crypto, cash, marketable securities and other investments totaled $15.1 billion.

Bitmine Chairman Tom Lee attributed recent pressure on crypto markets to investors cutting risk amid geopolitical tensions, rising bond yields and concerns about AI funding and model safety.

"Crypto is widely held in the US, Korea and Taiwan," Lee said. "So naturally, when investors in those regions de-risk, this creates spillover pressures in crypto markets."

According to The Block's ETH price page, ether traded above $2,400 on Monday, up 0.43% over 24 hours.

Bitmine shares closed Friday at $21.66, down 7.28%, according to The Block's BMNR price page.