BitMine's Staked Ethereum Holdings Remain Steady at $12.7 Billion

BitMine's staked Ethereum (ETH) holdings remain at $12.7 billion as of August 30, unchanged from four previous weekly readings. The company added 53,501 ETH to its total holdings of 5,901,112 ETH during the latest week.

The reported staked balance of 5,067,309 ETH is valued at $12.7 billion using an ETH price of $2,511. This represents a position that BitMine describes as 4.9% of Ethereum's total supply of 120.7 million.

BitMine has set a goal to acquire 5% of ETH and has previously stated it aims to reach this target. The company also reported annualized staking revenue of $335 million, which would increase to $390 million if its entire ETH balance were staked through MAVAN and staking partners at the same yield.

However, the breakdown of BitMine's staked ETH on MAVAN remains unclear, as the company has not provided a specific amount. Chairman Tom Lee stated that BitMine had staked more ETH than any other entity, but this claim cannot be independently verified by The Defiant.