BitMine’s Staked ETH Holds at 5.07 Million as Treasury Grows

BitMine Immersion Technologies said in its latest staking disclosure that it had 5,067,309 ETH staked as of Aug. 30, a position it valued at $12.7 billion using an ETH price of $2,511.

The reported staked balance was unchanged from Aug. 9 through Aug. 30. BitMine separately said it acquired 53,501 ETH over the latest week, while its total holdings reached 5,901,112 ETH.

BitMine described the treasury as 4.9% of Ethereum’s 120.7 million supply. The company has previously stated a goal of acquiring 5% of ETH.

The company annualized a 2.63% yield generated by its staking operations over seven days and said the current position implies $335 million in yearly staking revenue. It projected $390 million in annual staking rewards if its entire ETH balance were staked through MAVAN and staking partners at the same yield.

Those estimates use a seven-day annualized yield rather than a full-year result.

MAVAN Breakdown Remains Unclear

BitMine officially launched MAVAN, its Made in America Validator Network, in April. Before the launch, the company said it was working with three staking providers. Its April disclosure said a portion of 3,334,637 staked ETH was already on MAVAN, without specifying the amount.

The current post reports a total staked balance but does not provide a MAVAN-specific amount, so it does not show how much the in-house network itself operates. The $335 million figure is described as annualized staking revenue and is not identified as customer fee income.

BitMine’s staked position stood at 4,879,157 ETH in early July. It crossed 5 million by Aug. 9 but has remained flat across the four latest weekly readings.

Chairman Tom Lee said BitMine had staked more ETH than any other entity. The post does not provide a comparison set in its text, so The Defiant could not independently assess the claim.