BitMine Stakes $300M in Ether, Now Holds 4.8% of Supply

BitMine has made significant moves in staking Ether (ETH) over the past week, according to data from Arkham. The company led by Tom Lee staked approximately $300 million worth of ETH during this period, which brought BitMine's staked ETH to 4.2% of Ethereum's total supply.

In addition to staking, BitMine continued its purchasing activity, acquiring an additional $14.25 million worth of ETH over the same period. As a result, BitMine now holds a substantial 4.8% of Ethereum's total supply.

Arkham's report provides insight into the significant investments being made by BitMine in the Ethereum ecosystem.