BitMine Grows Ethereum Stash to Over 5.7 Million ETH

BitMine added 7,430 ETH to its holdings over the past week. This brings the company total to 5,777,468 ETH. With this latest purchase, the firm now controls approximately 4.8 percent of the total circulating supply of Ethereum.

The firm is putting a large portion of these assets to work. Out of its total holdings, the company has staked 4.92 million ETH. This means roughly 85 percent of its entire stash is currently generating staking rewards.

Alongside its crypto activity, the company repurchased 5.5 million shares at an average price of $15.62. BitMine now reports total assets including cash, crypto, and other investments valued at $11.5 billion. Traders should watch how these large staking moves affect network liquidity and future company performance.