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BitMine increased its holdings by 7,430 ETH last week, and repurchased 5.5 million shares of common stock during the same period
PANews July 20, according to PR Newswire, BitMine increased its holdings by 7,430 ETH last week. Its total ETH holdings are now 5,777,468 ETH, accounting for about 4.8% of Ethereum’s total supply. The company disclosed that the total value of its cryptocurrency, cash, and other investment assets is approximately $11.5 billion, including $385 million in cash and marketable securities, 207 BTC, $180 million in Beast Industries equity, and a $58 million investment in Eightco Holdings (ORBS). BitMine has staked 4,917,189 ETH (about 85% of its ETH holdings), valued at approximately $9.2 billion based on $1,879 per ETH. Its current annualized staking revenue is about $247 million, and it also earns returns through its own MAVAN staking network. Bitmine repurchased 5.5 million shares of common stock last week, under the authorization for the previously announced $4 billion share repurchase plan.