Bitmine Immersion Technologies now holds 4.8 million ether, equivalent to 3.98% of the cryptocurrency’s circulating supply. The company is closing in on its stated goal of controlling 5% of all ETH in circulation. The milestone reflects a significant accumulation strategy that has drawn considerable attention from investors and market observers.
Alongside its holdings, Bitmine operates the Mavan staking network, which currently stakes 3.33 million ETH. That network generates approximately $196 million in annualized revenue for the company. The expansion of the Mavan platform has been a central component of Bitmine’s broader growth strategy.
At full deployment, Bitmine projects the staking operation could yield up to $282 million in annual staking rewards. The company has framed ETH as a “wartime store of value,” positioning the asset within a broader narrative about its long-term utility and resilience. This framing appears intended to appeal to investors seeking alternatives to traditional stores of value.
Bitmine has also made a notable change to its stock market presence, moving its listing to the New York Stock Exchange from NYSE American. The upgrade in listing venue coincides with the company’s stock becoming one of the most heavily traded in the United States. The move signals the company’s growing profile among institutional and retail investors alike.
The combination of aggressive ETH accumulation, an expanding staking network, and a prominent exchange listing places Bitmine in a distinctive position within the digital asset industry. Whether the company reaches its 5% ownership threshold will depend on continued acquisition activity and market conditions. Investors and analysts are closely watching its progress toward that benchmark.
Originally reported by CoinDesk.
