Bitmine Expands Ether Treasury to 5.98 Million Tokens, Nearing 5% Supply Milestone

Bitmine Immersion Technologies expanded its Ethereum reserves to 5,983,940 ETH, bringing total corporate crypto and cash holdings to $17.1 billion. The company acquired 27,562 ETH for roughly $74 million to $75.2 million, lifting its holdings to 4.9% of Ethereum's 122.1 million circulating supply. Bitmine has staked 5,067,309 ETH, about 85% of its reserve, projecting $357 million in annualized revenue at a 2.62% yield. Chairman Tom Lee stated that institutional investors remain underweight in crypto assets and predicted strong institutional fourth-quarter inflows as Ether rallied past $2,700.