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Bitmine adds 12,535 ETH, bringing treasury to 6.04 million
Bitmine Immersion Technologies reported acquiring 12,535 ether over the past week, bringing its treasury to 6,041,481 ETH. As of October 18, the company valued these holdings at about $14.3 billion, based on a price of $2,365 per ether. That represents 4.9% of Ethereum’s circulating supply of 122.1 million tokens. Bitmine said 5,067,309 ETH, valued at $12 billion, are staked through its MAVAN platform and staking partners, equal to 84% of its ether balance.
The company projected annualized staking revenue of $309 million at current levels, rising to $369 million once its holdings are fully…
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