BitMine Adds $92 Million in ETH, Reaches 4.7% of Circulating Supply

ETH0.74%
According to Chairman Tom Lee, BitMine Immersion Technologies added $92 million in Ethereum last week, expanding its total ETH holdings to 5,672,956 tokens and reaching 4.7% of the circulating supply. The acquisition of 52,203 ETH brings the firm 94% of the way toward its 5% supply goal. BitMine raised approximately $274 million from its recently launched preferred equity offering (BMNP) to fund additional Ethereum purchases and staking infrastructure expansion. The firm currently stakes more than 4.7 million ETH, representing 83% of its holdings, and projects around $268 million in annualized revenue from staking rewards once its entire treasury is staked.
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