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UNITom Lee's BitMine stakes another 159,728 ETH, lifting staked share to 86.5%
BitMine staked a further 159,728 ETH worth about $391m on 21 Oct, taking its staked total to 5.23m ETH and putting 86.5% of its treasury to work.
Why it matters: BitMine's staking push ties a large corporate treasury to ether yield and concentrates a big share of network stake, a signal for readers tracking institutional demand.
Key points
- BitMine staked 159,728 ETH, worth about $391m, on 21 Oct, according to onchain analysts.
- The company now has 5.23m ETH staked, about 86.5% of its roughly 6.04m ETH, up from about 84% on 18 Oct.
- BitMine is about 63,500 ETH short of Tom Lee's goal of owning 5% of ether's 122.1m circulating supply.
Tom Lee's BitMine staked another 159,728 ETH on 21 Oct, a move that onchain analysts put at about $391m and that lifted the company's staked total to 5.23m ETH, Bitcoin.com News reports. That staked pile is worth near $12.8bn and covers 86.5% of the firm's holdings, up from about 84% on 18 Oct.
In an update on 19 Oct, BitMine estimated annualised staking rewards of about $309m at its prior staked level, rising to $369m if the whole treasury were staked. On that basis the new 159,728 ETH should add roughly $10m a year.
The position also concentrates a large slice of network stake under one corporate roof.
Live updates on NewsFeeds:EthereumDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.
Not investment advice. Read the risk disclaimer.