BitMine Staked ETH Reaches 5.07 Million, Accounting for 4.9% of Total Supply

Bitcoin mining firm BitMine Immersion Technologies reported that as of August 30, it held 5,067,309 staked ETH, valued at approximately $12.7 billion. The company's total ETH holdings reached 5,901,112 after acquiring an additional 53,501 ETH in the latest week. This total represents 4.9% of the 120.7 million ETH circulating supply, nearing the company's 5% acquisition target. BitMine noted a 2.63% annualized yield on its staking operations, projecting annual staking revenue of approximately $335 million from current holdings, with potential to reach $390 m