BitMine nears 5% of Ethereum supply after accumulating another 9,587 ETH
BitMine says it bought another 9,587 $ETH over the past week, bringing its total holdings to 6,070,092 $ETH —equivalent to about 4.97% of the total Ethereum supply. Tom Lee’s company is getting very close to the 5% milestone it set for its ETH treasury.
BitMine isn’t just accumulating; it has also put most of its $ETH into staking: 5,227,037 $ETH are currently staked. According to the company, staking its entire holdings could generate annualized rewards of around $359 million, based on the latest 7-day staking yield of 2.65%. BitMine’s total crypto, cash, marketable securities, and other investments are currently worth around $14.3 billion.
The corporate treasury trend is therefore becoming clearly divided into two camps: Strategy is accumulating Bitcoin, with 850,364 BTC, while on the Ethereum side, BitMine alone holds nearly 5% of the supply—a concentration large enough that any further purchases or changes to its staking policy become market events.
In the market, $ETH is underperforming the broader market today: trading around 2,117 USDT, down 5.37% over 24 hours, while BTC is down 1.72%.
Do you think a company nearing 5% of the supply is a positive signal for $ETH , or a concentration risk the market is overlooking?
(Not investment advice)
BitMine says it bought another 9,587 $ETH over the past week, bringing its total holdings to 6,070,092 $ETH —equivalent to about 4.97% of the total Ethereum supply. Tom Lee’s company is getting very close to the 5% milestone it set for its ETH treasury.
BitMine isn’t just accumulating; it has also put most of its $ETH into staking: 5,227,037 $ETH are currently staked. According to the company, staking its entire holdings could generate annualized rewards of around $359 million, based on the latest 7-day staking yield of 2.65%. BitMine’s total crypto, cash, marketable securities, and other investments are currently worth around $14.3 billion.
The corporate treasury trend is therefore becoming clearly divided into two camps: Strategy is accumulating Bitcoin, with 850,364 BTC, while on the Ethereum side, BitMine alone holds nearly 5% of the supply—a concentration large enough that any further purchases or changes to its staking policy become market events.
In the market, $ETH is underperforming the broader market today: trading around 2,117 USDT, down 5.37% over 24 hours, while BTC is down 1.72%.
Do you think a company nearing 5% of the supply is a positive signal for $ETH , or a concentration risk the market is overlooking?
(Not investment advice)
