Ethereum Staked by Bitmine Hits $5.7B

BitMine Expands Ethereum Staking to 1.9 Million ETH

• BitMine Immersion Technologies staked an additional 171,264 Ethereum (ETH) valued at $503 million.
• The company’s total staked ETH now stands at approximately 1.9 million, worth $5.7 billion.
• BitMine holds over 4 million ETH, representing about 3.5% of Ethereum’s circulating supply.
• The firm aims to reach a target of holding 5% of the total Ethereum supply.
• Projected annual income from staking rewards is over $400 million.

BitMine Immersion Technologies has increased its stake in Ethereum to around 1.9 million ETH, valued at $5.7 billion, as part of its strategy to capture a larger share of the market.