Bitmine boosts Ethereum holdings to 5.18M ETH, now 4.29% of total supply, eyeing $352M annual staking rewards.

Bitmine Immersion Technologies recently acquired 101,745 Ethereum tokens, raising its total ETH holdings to 5.18 million, worth about $12.1 billion. This represents 4.29% of Ethereum's total supply of 120.7 million coins, nearing their goal of holding 5%. Bitmine has staked 4.36 million ETH, generating annualized rewards close to $297 million, with projections up to $352 million. The company also launched MAVAN, an institutional-grade Ethereum staking platform, aiming to expand services to institutional investors. Bitmine's chairman Tom Lee highlighted growing interest from Wall Street in blockchain tokenization and AI systems relying on Ethereum, signaling strong future demand.