BitMine’s Ethereum treasury has reached 5.78M ETH—approximately 4.8% of the network’s total supply.
Around 4.92M ETH is currently staked, with projected annualized staking revenue of roughly $247M.
The important shift is capital allocation: BitMine added only 7,430 ETH last week while repurchasing 5.5M of its own shares. The focus may be moving from pure accumulation toward increasing ETH exposure per share.
The main risk is concentration. A single public company now controls almost 5% of ETH supply.
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