Bitmine Ether holdings reach 4.97% of supply measure

Bitmine Immersion Technologies reported that its Ether holdings reached 6,070,092 tokens on November 8, equal to about 4.97% of the 122.2 million ETH supply measure it uses. The company said it acquired 9,587 ETH during the preceding week, bringing it close to its stated goal of holding 5% of that supply measure.

The company’s November 9 announcement, attached to a filing with the U.S. Securities and Exchange Commission, valued its combined cryptocurrency, cash, marketable securities and other investments at $14.3 billion as of November 8. Bitmine’s holdings had been reported at $14.5 billion a week earlier. The latest ETH balance was worth more than $12.9 billion at prices cited in company materials.

Bitmine also reported that 5,227,037 ETH, about 86% of its holdings, were staked. It estimated annualized rewards of $309 million at the current staking level, and $359 million in a scenario where its entire ETH treasury was staked. Those figures are projections, not income already earned, and depend on staking yields and other operating conditions.

The company’s reported trailing seven-day staking yield was 2.65% on November 8, down from 3.03% on November 1. Its estimate for...