BitMine Makes Aggressive Play for Ethereum with Record Stake Acquisition

BitMine has made an aggressive expansion play in the Ethereum market by acquiring nearly 10,000 ETH over the past week.

The company now holds a total of 5.79 million ETH, which represents about 4.8% of the circulating supply.

This significant stake increase comes as Ethereum's price sees a notable upswing, currently trading near $1,968.

BitMine has staked 85% of its holdings, approximately 4.92 million ETH, through Ethereum's proof-of-stake model to generate consistent returns.