Bitcoin has Strategy, and Ethereum has Bitmine. Publicly traded companies are becoming crypto’s biggest hoarding whales.
Last week, Bitmine bought another 8,573 ETH. As of November 1, Bitmine held 6,060,506 ETH, about 4.96% of Ethereum’s total supply.
But what’s more noteworthy is that it has already staked 5.227 million ETH, or 86% of its holdings.
Based on current figures, this is expected to generate about $358 million in staking revenue per year.
What does this mean?
Strategy is accumulating BTC, betting primarily on Bitcoin’s long-term appreciation and the capital markets’ willingness to keep financing it.
Bitmine is accumulating ETH. In addition to waiting for its price to rise, it can continuously earn new ETH through staking.
One is more like a digital gold reserve company; the other is trying to become a publicly traded company holding vast amounts of yield-generating assets.
Crypto is entering a new phase: it’s not just about who is buying coins, but also who is gaining control of more and more of them.
Last week, Bitmine bought another 8,573 ETH. As of November 1, Bitmine held 6,060,506 ETH, about 4.96% of Ethereum’s total supply.
But what’s more noteworthy is that it has already staked 5.227 million ETH, or 86% of its holdings.
Based on current figures, this is expected to generate about $358 million in staking revenue per year.
What does this mean?
Strategy is accumulating BTC, betting primarily on Bitcoin’s long-term appreciation and the capital markets’ willingness to keep financing it.
Bitmine is accumulating ETH. In addition to waiting for its price to rise, it can continuously earn new ETH through staking.
One is more like a digital gold reserve company; the other is trying to become a publicly traded company holding vast amounts of yield-generating assets.
Crypto is entering a new phase: it’s not just about who is buying coins, but also who is gaining control of more and more of them.
