BitMine Surpasses 5.8M ETH in Staked Ethereum Holdings

BitMine's Ethereum staking engine has surpassed 5.82 million ETH in total holdings, accounting for approximately 4.8% of Ethereum's supply.

The company added 9,926 ETH to its treasury over the past week, but the most significant figure is the 5.07 million ETH that BitMine has staked, generating an estimated $250 million in annualized staking revenue.

This move redefines the traditional treasury model for companies holding cryptocurrencies, introducing a new set of trade-offs including protocol participation, yield, and exposure to slashing risk.

BitMine's decision to stake the majority of its Ethereum holdings is not trivial, especially at this scale, as it raises questions about liquidity, validator performance, and withdrawal mechanics.