Crypto
BitMine Deploys Massive Ethereum Staking Position
BitMine has significantly boosted its Ethereum staking position by placing 5.07 million ETH into staking, accounting for around 87% of its cryptocurrency holdings.
This move is estimated to generate approximately $257 million in annualized revenue, according to the company.
The company's overall Ethereum position now totals 5.805 million ETH after adding 7,391 ETH in the latest week, representing about 4.8% of the ETH supply.
BitMine has also been actively repurchasing shares, with a total of 19.1 million shares bought back since July, including 3 million purchased in the latest week.