Bitmine said it bought another 12,532 ETH over the past week, lifting its total Ether holdings to 6,028,946 ETH as of Oct. 12. The company described itself as the world’s largest corporate holder of Ether, and said its position now represents about 4.9% of ETH’s circulating supply.

At the stated Ether price of $2,544, Bitmine’s ETH treasury is worth roughly $15.3 billion. The company also reported total crypto assets, cash, marketable securities and strategic investments of $16.2 billion.

Latest increase in holdings

The latest purchase adds to an already outsized Ether position. Bitmine said its treasury now stands at just over 6.03 million ETH, a level that keeps it ahead as the largest known corporate ETH holder based on its own disclosure.

The company has previously said it wants to accumulate 5% of all Ether. With 6,028,946 ETH on hand and its holdings equal to 4.9% of circulating supply, Bitmine appears close to that stated target, based on the figures it released on Oct. 12.

Breakdown of assets

Alongside its Ether reserves, Bitmine reported holding 214 BTC, $612 million in cash and marketable securities, a $180 million stake in Beast Industries, and an $85 million stake in Ateco Holdings.

Taken together, those positions bring the company’s total crypto assets, cash, marketable securities and strategic investments to $16.2 billion, according to the update. Ether remains by far the dominant component of that balance sheet.

Staking income remains central

Bitmine said it has staked 5,067,309 ETH, valued at about $12.9 billion using the same reference price. That means roughly 84% of its total Ether holdings are currently staked.

Based on a seven-day annualized yield of 2.61%, the company projected about $336 million in annual income from its current staked ETH. It also said that if all of its Ether were staked, annual rewards would rise to about $400 million.

What comes next

The company’s latest disclosure shows Bitmine nearing its stated goal of holding 5% of the Ether supply, while continuing to rely heavily on staking as a source of projected income.

Beyond that target, the company said it believes it is well positioned to outperform the market in the next crypto bull run. That remains the company’s view rather than a confirmed outcome, but the next measurable step will be whether Bitmine continues adding to its ETH treasury and increases the share of holdings that are staked.

Source: en.bloomingbit.io