Bitmine added 12,532 ETH last week, bringing its total holdings to 6.03 million, approaching its 5% supply target.

BlockBeats news, October 12: Bitmine Immersion Technologies (BMNR) announced on October 12 that, as of the latest count, it holds approximately 6.03 million ETH, accounting for about 4.9% of the total ETH supply. The company added 12,532 ETH last week, further increasing its holdings beyond the 6 million mark and putting it just one step away from its goal of holding 5% of the total ETH supply.

In addition to ETH, Bitmine's crypto assets, cash, marketable securities, and other investments total approximately $16.2 billion. Among this, the company has staked 5,067,309 ETH, valued at approximately $12.9 billion based on the announcement data, representing about 84% of its total ETH holdings.

Bitmine Chairman Tom Lee stated that since the company launched its ETH treasury strategy on June 30, 2025, it has continued to buy ETH every week. He expects that once all of the company's ETH holdings are fully staked through MAVAN and partners, annualized staking revenue could reach approximately $400 million based on the current 2.61% seven-day yield.

In addition, the company's perpetual preferred stock BMNP closed at $99.53, above its issue price of $80 per share. Tom Lee believes that as tokenization, wealth transfer, and AI-related demand drive the development of the crypto market, Bitmine is poised to benefit from the next bull market.