Overview
- Bitmine disclosed Monday it added 71,179 ETH in the week ending March 29, raising its total to 4,732,082 tokens, equal to about 3.92% of Ethereum’s circulating supply.
- MAVAN, the company’s institutional validator network launched March 25, now stakes roughly 3.14 million ETH and generates about $177 million a year at a seven‑day yield near 2.8%.
- Staking locks ETH to help run the network and pays protocol rewards, so Bitmine converts a large liquid treasury into income‑producing assets that are harder to sell quickly.
- The firm reported $10.7 billion in crypto, cash and strategic holdings, including its ETH stack, 197 BTC, and equity stakes in Beast Industries and Eightco Holdings (ORBS).
- Peer strategies are splitting as Strategy paused weekly Bitcoin buys, and market reaction to Bitmine’s update looked uneven with reports of BMNR sliding intraday even as ETH ticked higher.