BitMine Becomes One of Largest Single Validators on Ethereum
BitMine has significantly increased its Ethereum holdings over the past week, buying 28,086 ETH worth $2,520.50 each. This purchase brings BitMine's total ETH holdings to 5,929,198 tokens, accounting for approximately 4.9 percent of the entire Ethereum supply.
The value of BitMine's Ethereum stake is now around $14.8 billion, according to current prices. Chairman Tom Lee stated that the company has bought ETH consistently for 65 straight weeks, calling its track record 'unmatched' by any other public company.
However, what's more notable than BitMine's supply share is its validator network stake. The company's validators now hold close to 12 percent of all staked Ethereum, rivaling major exchanges and far surpassing every other public ETH treasury company.