Bitmine shares jump 4.16% as Ethereum holdings hit 5.18M ETH, boosting staking revenue to $297M annually

Bitmine Immersion Technologies saw its shares rise 4.16% after revealing it holds 5.18 million ETH, about 4.29% of Ethereum's circulating supply, nearing its 5% target. The company added 101,745 ETH in the past week, continuing a four-week buying streak. Bitmine's staking operations now generate $297 million annually from 4.36 million ETH, with potential to reach $352 million through its MAVAN network. The firm also holds diversified assets totaling $13.1 billion, including Bitcoin and cash, and plans to expand its staking services to institutional clients, highlighting Ethereum's growing role in blockchain and AI commerce.