BitMine deepens Ethereum bet with 41,788 ETH buy, ramps up staking
BitMine acquired 41,788 ETH, increasing its total holdings to 4.285 million ETH, while significantly boosting its staked amount.Summary
BitMine Immersion Technologies has increased its Ethereum holdings by acquiring 41,788 ETH over the last week, bringing its total to 4.285 million coins, valued at approximately $9.9 billion as of February 1st. This accumulation represents about 3.55% of Ethereum's circulating supply, moving the company closer to its internal goal of holding 5% of all circulating ETH. Concurrently, BitMine has ramped up its staking efforts, with staked ether climbing to about 2.9 million ETH, expecting annualized staking revenue of $188 million, which will grow as they roll out their MAVAN validator network in early 2026. Executive Chairman Thomas Lee stated the buying spree capitalizes on a perceived disconnect where Ethereum's on-chain fundamentals are strong despite a market price pullback, viewing the current price as an attractive entry point.
(Source：The Block)