Oct. 20 (CandyPulse) — BitMine Immersion Technologies (BMNR) isn't slowing down. The NYSE-listed company said its Ethereum holdings reached 6,041,481 ETH as of Oct. 18, after it added 12,535 ETH over the past week.
Key takeaways
| Metric | Figure |
|---|---|
| Total ETH held | 6,041,481 ETH |
| Added this week | 12,535 ETH |
| Share of ETH supply | ~4.9% |
| ETH staked | 5,067,309 ETH (84%) |
| Estimated yearly staking income | ~$309 million |
| ETH reference price | $2,365 (per Coinbase) |
| Total holdings value | ~$15.1 billion (from $16.2 billion) |
| Gap to 5% target | ~89,000 ETH |
Here's the twist: BitMine added ETH, yet its total holdings value fell by about $1.1 billion in a week. The reason is the price. ETH slipped to around $2,365 in BitMine's disclosure, with markets trading near $2,400 the same day. The drop in price outweighed the new purchase.
That hasn't stopped the company. Its approach is long term: buy steadily, stake most of what it holds, and earn yield while waiting for the price to recover.
BitMine is now one of the largest single holders of ETH in the world. With 84% staked, it also plays a growing role in securing the Ethereum network. Our earlier report covered how BitMine passed 6 million ETH.
Staking demand has been strong across the market. Read why ETH is waiting in line in staking queues and what the 1.5 million ETH staking queue means.
At its current pace, BitMine could cross the 5% mark within weeks if it keeps buying. Watch next Monday's update for the latest figure. For the bigger picture on Ethereum's future, see Vitalik Buterin's 2030 vision explained.
Disclaimer: This article is for information only and is not financial advice. Crypto assets are volatile and can lose value. Always do your own research before making any investment decision.
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