BitMine Surpasses 5.8 Million ETH in Treasury Amid Staking Income Projections

BitMine has increased its Ethereum treasury to approximately 4.8% of the total supply after purchasing an additional 9,926 ETH last week.

The company's total reserves now stand at 5,815,164 ETH, surpassing the 5.82 million mark.

According to BitMine's update shared by Wu Blockchain, the company's weekly net ETH purchases led to a significant increase in its total reserves compared to the previous period.

The institution is leveraging its ETH holdings to generate revenue through staking, with approximately 87% of its total reserve currently staked.