Overview
- BitMine disclosed Monday that it bought 17,362 ETH in the prior week, bringing its treasury to 6,001,302 ETH, about 4.9% of circulating supply.
- More than 5.06 million ETH, or roughly 84% of BitMine’s holdings, are staked through the MAVAN validator network and are generating a seven-day annualized yield near 2.62%.
- Using the company’s $2,698 reference price, BitMine values the ETH stake at about $16.2 billion and reports total assets of roughly $17.2 billion.
- The pace of purchases has slowed from peaks above 100,000 ETH per week to recent weekly additions in the mid-teens of thousands, leaving the firm about 103,698 ETH short of its stated 5% target.
- Concentrating a public company’s balance sheet in ETH raises risks for shareholders because price swings, limited liquidity for large sales, validator downtime or slashing, and regulatory changes could hit both the treasury and BMNR stock.