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Bitmine Expands Ethereum Holdings to 5.67 Million ETH
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
Bitmine acquired an additional 52,203 ETH over the past week, increasing its total Ethereum holdings to 5.67 million ETH, valued at approximately $9.8 billion and representing about 4.7% of Ethereum’s total supply. The company also reported total crypto, cash, and securities holdings of $10.7 billion. The expansion matters because it further strengthens Bitmine’s position as a major institutional Ethereum holder. With 4.72 million ETH currently staked, generating projected annualized staking revenue of $223 million, investors will be watching the firm’s accumulation strategy and staking performance.
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