U.S.-listed BitMine Immersion Technologies (BitMine) increased its Ethereum (ETH) holdings to more than 5.95 million tokens. It expects income of $334 million a year, or 450.1 billion won, at current yields by staking about 85% of that amount.

On Sept. 14 local time, Cointelegraph and the company said BitMine bought an additional 27,180 ETH last week, taking total holdings to 5,956,378 ETH. That equals 4.9% of Ethereum's total supply of about 122 million tokens. The company values its Ethereum holdings at about $15.0 billion, based on $2,513 per ETH, or 3,386,300 won. Total assets, including cash, bitcoin and other investment assets, are about $15.8 billion, or 21.3 trillion won.

BitMine is staking 5,067,309 ETH, about 85% of its total holdings. The company said annualised income could reach about $334 million if the 7-day staking yield of 2.62% is annualised. It said this is an estimate that simply annualises the current yield, and actual income could vary depending on factors including the network reward rate and the ETH price.

BitMine is strengthening a strategy that uses its holdings as a recurring source of income, moving beyond simply targeting gains in the ETH price, by launching its in-house institutional staking platform MAVAN this year. Last quarter it recorded $45.7 million in revenue from staking and validation, accounting for about 98% of total revenue.

The company's long-term goal is its so-called "Alchemy of 5%" strategy of securing 5% of Ethereum's supply. With its share now at 4.9%, it is close to the target.

By contrast, Strategy, the world's largest corporate holder of bitcoin, has stopped additional BTC purchases for two consecutive weeks and is putting funds into redeeming its STRC preferred shares. As BitMine expands both ETH purchases and staking, the capital-management strategies of the two leading crypto treasury companies are diverging.