Onchain analysts reported that Bitmine staked another 159,728 ETH, worth about $390.6 million, on Oct. 21. That brought its staked total to about 5.23 million ETH, or 86.5% of its roughly 6.04 million ETH holdings. Staked ether cannot be sold immediately: withdrawing it requires joining a validator exit queue, which can lengthen when many holders seek to leave.
Bitmine was about 63,500 ETH short of its goal of owning 5% of ether’s 122.1 million circulating supply. In an Oct. 19 update, the company estimated annualized staking rewards of about $309 million at its previous staked level; that figure was an estimate, not a measured return from the latest stake.
