Bitmine Immersion Technologies (BMNR) reported on Monday that it purchased nearly 51,000 more ETH tokens last week, increasing its holdings to 4.474 million.
“Amid this ‘mini crypto winter,’ our focus remains on methodically executing our treasury strategy and consistently acquiring ETH while optimizing the performance of our ETH holdings,” said President Tom Lee.
The company said it now has 3,040,483 ETH at stake, worth around $6 billion at current prices. Lee said annualized gambling revenue amounts to $172 million. On a large scale, staking rewards could reach $253 million annually with a return of 2.86% over the past seven days, Lee continued.
The company holds 4,473,587 ether (ETH), valued at $1,976 per token, along with 195 bitcoins and $868 million in cash, as well as a $200 million stake in Beast Industries and a $14 million investment in Eightco Holdings. Bitmine said its ether position represents 3.71% of the supply of 120.7 million Ethereum tokens.
Lee added that the company is developing its Made in America Validator Network, or MAVAN, a staking platform scheduled to launch in early 2026. Bitmine said it is working with three staking providers as it builds out the network.
