BitMine staked $53.88M in ETH via Coinbase Prime, bringing its holdings to 4.8% of Ethereum's supply and 96% toward its 5% accumulation target.
DeFi & Yields ·
BitMine expanded its Ethereum position by acquiring 10,399 ETH in recent trading activity, bringing its total stake to roughly 5.8 million tokens, equivalent to approximately 4.8% of circulating supply. The move reflects continued accumulation as the company's combined crypto, cash, marketable securities and other investments reached $11.3 billion as of early August.
A substantial portion of BitMine's ETH position is actively participating in network consensus. The company has committed roughly 85% of its holdings—amounting to 4,917,189 tokens—to staking arrangements. During the same week, BitMine also repurchased 4.5 million of its own shares, signaling capital deployment across both digital assets and equity buybacks.
The scale of BitMine's Ethereum concentration—nearly 5% of circulating supply held by a single entity—positions it among significant holders, though the longer-term implications for ETH market dynamics and the company's further accumulation strategy remain unspecified in available disclosures.