Brothers, Bitmine ($BMNR) is making big moves again! Recently, they directly added over 100,000 ETH in staking, locking in $219 million in just a week. The total staking amount has now reached 3.14 million ETH, worth about $6.8 billion (based on the price at that time).
This company was originally a Bitcoin miner, but has now transformed into the largest public holder of ETH treasury globally, led by Tom Lee. The goal is to capture 5% of the total supply of Ethereum — they have already completed nearly 78% of this target, holding a total of over 4.6 million ETH, which accounts for about 3.8-3.9% of the circulating supply.
Even more impressive, their institutional-grade staking platform MAVAN (Made in America Validator Network) has recently officially launched! Initially built for their own assets, it is now open for use by other institutions, custodians, and exchanges, emphasizing local compliance in the USA + global distributed performance. It is said that it will soon become the largest single ETH staking platform in the world after launch.
Currently, their staking yield over the past 7 days is between 2.81-2.83%, which is slightly higher than the industry average. The annualized income from the already staked portion is nearly $184 million, and once everything is finalized, it is expected to generate close to $270-300 million in stable annual income. This move transforms ETH from a mere “speculative asset” into a strategic reserve that can generate returns, similar to how MicroStrategy plays with Bitcoin, but with the added native yield from PoS.
By doing this, institutions are effectively locking a large amount of ETH out of the market, and the reserves at exchanges were already low, which is beneficial for the long-term supply of ETH. Tom Lee is still following the same old logic: bullish on ETH at $7,000-9,000, driven by tokenization and institutional adoption.
Of course, there are risks as well. A single entity holding such a large position brings concentration, regulatory scrutiny, and potential selling pressure during the unlocking period that must be watched. But overall, this move signals a deep embrace of the ETH ecosystem by institutions; they are not just buying, but actively operating to generate cash flow.
What does everyone think? Are you optimistic about ETH's transformation from “Gas + speculation” to “yield + infrastructure,” or do you think the concentration risk is too great? Welcome to discuss!
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