BitMine Immersion Technologies purchased 32,977 ETH in the past week, raising its treasury to 4,143,502 ETH, nearly five times larger than its closest competitor. The company controls 3.43% of Ethereum’s circulating supply and holds 659,219 ETH in staking, marking a weekly increase of 250,592 ETH.
BitMine’s total assets reach $14.2 billion, including 192 BTC, $25 million in “moonshot” holdings, and $915 million in cash. The company aims to acquire 5% of the ETH supply, roughly 6 million tokens.
BitMine is preparing to launch MAVAN, its U.S.-based validator network, to provide secure staking, projecting annual revenues of $374 million.
ETH rose 7.8% over the past week, driven by market recovery and favorable macro factors, including increased regulatory support and strong adoption across the crypto market.
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