Overview
- BitMine, which disclosed figures Monday, now holds 5,180,131 ETH after buying 101,745 tokens in the past week.
- About 4.36 million ETH are staked, generating roughly $297 million a year in protocol rewards through MAVAN, which runs validators on Ethereum’s proof-of-stake network.
- The latest tally includes a 10,000 ETH over-the-counter purchase from the Ethereum Foundation at an average price of $2,292 per coin.
- The position equals about 4.29% of ETH’s supply, putting BitMine roughly 86% of the way to its stated goal of owning 5% of all ETH.
- Chairman Tom Lee says a “crypto spring” has begun and points to progress on the CLARITY Act, while BitMine’s scale could tighten tradable ETH, lengthen validator activation queues, and add pressure on decentralization.