BitMine Ramps Up Ethereum Staking, Targets 5% of Global Supply

BitMine has rapidly increased its Ethereum staking, locking up over 800,000 ETH worth nearly $3 billion, and aims to control 5% of the global supply, signaling strong institutional confidence in Ethereum.

BitMine has made a series of substantial Ethereum staking moves, locking up hundreds of thousands of ETH and bringing its total staked holdings to between 827,008 and 908,192 ETH, valued at up to $2.95 billion. Recent transactions include deposits of 19,200 ETH ($60.85 million), 24,544 ETH ($77.45 million), 28,320 ETH ($88.79 million), and a major restaking of 109,504 ETH ($344 million). BitMine’s strategy focuses on long-term network participation and yield generation, with ambitions to stake up to 5% of the global Ethereum supply. The company’s actions reflect a broader trend of institutional confidence in Ethereum’s proof-of-stake system, with analysts noting that large-scale staking and restaking could reduce circulating supply and impact market dynamics. BitMine’s ongoing accumulation and staking activities underscore its commitment to Ethereum and its evolving ecosystem.