Pledge revenue from Bitmine project reached US$363 million, and the treasury of Ethereum exceeded 6

Bitmine's Ethereum positions exceed 6 million, and the annualized revenue on pledge is expected to reach US$363 million.

Bitmine Immersion Technologies currently holds more than 6 million ETH, which is approximately US$16.4 billion based on current market value. After the latest round of token purchases, its positions accounted for 4.9% of Ethereum's total supply. Among them, 84% of Ethereum assets have been pledged. The company expects this operation to generate annualized revenue of US$363 million per year, with a yield of approximately 2.63%.

In addition, Company Chairman Tom Lee highlighted Ethereum's excellent performance in the third quarter. At the same time, Bitmine also disclosed its Bitcoin positions, corporate investments and cash and securities reserves of up to US$643 million.

The size of Ethereum treasury is close to the key threshold of 5%

According to the company's announcement released on Monday, its total ethereum treasury has reached 6,016,414, including 15,112 new tokens purchased in the past week. In its October 4 portfolio valuation, Bitmine used an Ethereum price of $2,726 to calculate, giving these positions a value of approximately $16.4 billion.

This figure is equivalent to 4.9% of Ethereum's reported supply (122.1 million units), bringing the company's shareholding close to the important 5% threshold. This new purchase further consolidates its asset allocation dominated by Ethereum, with Ethereum holding accounting for the vast majority of its reported total assets of US$17.4 billion.

Large-scale pledge operations and revenue expectations

Through its MAVAN platform and pledge partners, Bitmine has pledged 5,067,309 ETH units, accounting for 84% of the total Ethereum balance. These pledged tokens have a reported value of US$13.8 billion and have become an important part of the company's treasury operations.

It should be pointed out that its annualized revenue forecast is based on a seven-day annualized rate of return of 2.63%, rather than the actual revenue received. The remaining 949,105 ETH items were not included in the disclosed pledge balance, accounting for approximately 16% of the company's Ethereum treasury. The announcement not only updates token purchases, but also details how Bitmine deploys most of its Ethereum holdings. At present, its reported pledge balance has exceeded 5 million pieces, and the overall treasury size has exceeded 6 million pieces.

Diversified Portfolio and Corporate Strategy

In addition to Ethereum, Bitmine also disclosed other asset allocations: including 214 bitcoins, a $180 million equity investment in Beast Industries, and a $117 million investment in Eightco Holdings. The two corporate investments, combined to $297 million, form part of the company's cryptocurrency, cash and other asset portfolio.

In addition, Bitmine also has US$643 million in cash and marketable securities. These assets, along with its cryptocurrency balance and investments, pushed up its reported total assets to $17.4 billion, which exceeds the valuation range for only Ethereum positions.

Market performance in a macro environment

Chairman Tom Lee reiterated the company's outlook for Ethereum, highlighting ETH's performance relative to the S & P 500 in the third quarter. Lee pointed out that despite macroeconomic pressures that affected the entire quarter, Ethereum still outperformed the index by 6,832 basis points.

He cited factors including the Fed's hawkish stance, soaring oil prices, rising global bond yields and general tightening of financial conditions. Lee demonstrated this performance comparison with company treasury data, highlighting the quarterly growth Ethereum achieved despite multiple pressures.

As of Monday, Ether was trading at approximately $2,711, an increase of 0.37%, slightly below the price used for the company's treasury valuation. In the past month, Ethereum has increased by more than 10%, and in the past three months it has increased by more than 50%.

Bitmine shares closed at $26.27 on Friday, down 1.72%. Despite a slight correction in the share price, the company's disclosures show that its Ethereum treasury is still expanding further. Its expected pledge income is based on the reported rate of return and an 84% position pledge ratio.