Bitmine Stakes $320M in Ethereum Amid Market Downturn

Bitmine, led by chairman Tom Lee, has staked over 75,600 Ethereum on Coinbase Prime, valued at approximately $320 million.

This move follows a separate allocation of more than 61,200 Ethereum completed on Wednesday, the firm's first staking activity in about three weeks.

According to Lookonchain, Bitmine now holds around 3.5 million Ethereum worth over $8.1 billion, which represents roughly 70.1% of its total Ethereum holdings.