BitMine adds 9,587 ether, pushing stake to 4.97% of supply
The firm said the expanded stake could earn roughly $359 million a year in rewards at a 2.65 % trailing yield.
Key takeaways
- 19,587 ether acquired in the past week
- 2Holdings now represent about 4.97 % of Ethereum’s total supply
BitMine said on Wednesday it bought 9,587 ether during the past week, raising its total stash to 6,070,092 ether, or roughly 4.97 % of the Ethereum network’s supply. The acquisition was disclosed in a statement released to investors.
The firm now holds 5,227,037 ether in active staking contracts. At the trailing seven‑day yield of 2.65 %, fully staking its holdings could generate about $359 million in annualised rewards. BitMine’s balance sheet lists crypto, cash, marketable securities and other investments of roughly $14.3 billion.
BitMine is a crypto‑investment platform that aggregates large ether positions and runs a proprietary staking service. Controlling close to five percent of all ether makes it one of the biggest single‑entity holders, giving it material influence over network security and reward distribution.
The concentration of staking power may affect Ethereum’s decentralisation and could draw regulator attention as the firm expands its stake. Market participants will watch BitMine’s future purchases and any shifts in staking yields, while holders consider the implications of such large‑scale staking on network health.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.