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BitMine Stakes 186K More ETH, Total Reaches 1.5M Worth $5.13B

Cointelegraph
BitMine staked an additional 186,560 ETH, bringing its total staked assets to over 1.53 million ETH, valued at $5.13 billion.

Summary

BitMine Immersion Technologies (BMNR), chaired by Tom Lee, staked another 186,560 ETH (worth approximately $625 million) into the Beacon Depositor address, increasing its total staked Ether to 1,530,784 ETH, valued at $5.13 billion. This amount represents 4% of the total 36 million ETH staked on the Beacon Chain. Given that BitMine holds just over 4 million ETH in total, 37% of its holdings are now staked. This move follows closely after the company surpassed the 1 million ETH staked milestone. Concurrently, the Ethereum staking validator entry queue has reached its highest level since August 2023 at 2.3 million ETH. BitMine's stock saw a 3.8% rise in after-hours trading, and the price of Ether itself surged 7% in 24 hours, hitting $3,375.

(Source:Cointelegraph)