BitMine Lifts Ethereum Holdings to 4.37 Million ETH, Now 3.62% of Supply as Staking Revenue Climbs

BitMine has increased its Ethereum treasury to 4.37 million ETH, adding around 45,759 ETH since last week and bringing its holdings to 3.62% of total ETH supply, Naga AvanNomayo reports. The firm has about 3.04 million ETH staked and reports roughly $176 million in annualized staking revenue, targeting $252 million a year once its Made in America Validator Network (MAVAN) is fully deployed. BitMine's total crypto and cash reserves stand at $9.6 billion, while ETH is down about 33% year-to-date and BMNR shares have fallen around 22% over the same period, with the accumulation occurring during what Tom Lee calls a "miniwinter."