\n<\/p>\n
\n\t\t\t\t\t\t\t\t\tThe company is now just 3% away from its ambitious target set just over a year ago.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
The Tom Lee-chaired Ethereum accumulator has ramped up its ETH acquisitions amid the asset\u2019s major price revival experienced last week.<\/p>\n
The company has acquired 32,447 tokens over the past week, and its total has skyrocketed to 5,847,611 ETH as of August 23. With Ethereum\u2019s price jumping to $2,440 yesterday, this put the firm\u2019s position at $14.3 billion \u2013 or about $3 billion higher than the previous week.<\/p>\n
Taking into consideration the latest purchase announced<\/a> earlier on August 24, the company\u2019s total stash of almost 5.85 million ETH represents approximately 4.8% of Ethereum\u2019s entire 120.7 million token supply. This means that the firm has completed 97% of its so-called \u201cAlchemy of 5%\u201d strategy. The ultimate goal is to control 5% of the altcoin\u2019s supply, an ambitious move it started in late June last year.<\/p>\n BitMine hasn\u2019t been deterred by the recent price moves in the crypto industry. Recall that ETH traded at around $1,900 by last Wednesday and has shot up by 30%, topping $2,500 briefly before it calmed just below that level today. This became its largest weekly surge since May 2025.<\/p>\n Tom Lee highlighted that the previous two comparable weekly rallies, in July 2021 and May 2025, were subsequently followed by gains of 167% and 170%, respectively. Although this sounds quite impressive, it\u2019s worth noting (again) that historical performance provides no guarantees that the asset will repeat either move.<\/p>\n Bitmine\u2019s latest purchase was also a lot higher than most of its previous ones, which dropped to around 10,000 ETH on several occasions. As reported<\/a> last week, the company bought 10,270 tokens after acquiring<\/a> 9,926 ETH the week before.<\/p>\n The other major development highlighted in the most recent announcement was the continuous staking effort from the company. It has now staked over 5,067,300 tokens, worth approximately $12.4 billion at current prices. This represents 87% of Bitmine\u2019s entire Ethereum treasury.<\/p>\n The current estimates show that the company could generate approximately $330 million in annualized revenue based on a seven-day annualized yield of 2.67%. If it stakes its entire portfolio through its own institutional platform called MAVAN, the projected numbers could rise to $381 million.<\/p>\nKeep Staking<\/h2>\n
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