Altcoins News
By Maheen Hernandez
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Staking Strategy and the $276M Annual Reward Estimate. Of those 5.39 million ETH, Bitmine has already staked 4,712,917 tokens — that's roughly $10.
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Key Price Levels Analysts Are Watching. Not everyone shares Lee's confidence. Analyst Ali Martinez has flagged $1,850 as a critical…
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Bitmine went big. The company dropped $238 million on Ethereum during a market dip, pushing its total holdings to 4.47% of the entire ETH supply.
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Bitmine Immersion Technologies made the move on Tuesday, picking up 111,942 ETH while prices slid below $2,200.
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Of those 5.39 million ETH, Bitmine has already staked 4,712,917 tokens — that's roughly $10.1 billion worth sitting in staking operations.
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Staking at that scale isn't just a passive income play. It's a structural commitment. You can't easily yank staked ETH on short notice, so Bitmine is essentially locking in its…
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Lee is optimistic. He sees a "crypto winter" wrapping up and a potential rally coming later this year, driven by what Bitmine's leadership calls a broader supercycle — one they…
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See also: BitMine Holds 3.8% of Ethereum Supply as Russell Index Adds Fuel to Liquidity Push
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For a real recovery, Martinez said Ethereum needs to clear the 200-week SMA near $2,500 and then break above the 50-week SMA around $3,100.
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So Bitmine's purchase near $2,200 puts them comfortably above that floor — for now. But the gap between current prices and the $2,500 resistance isn't huge, and the market's been…
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Ethereum adoption across institutional players has grown sharply in recent years, and the tokenization narrative has picked up real momentum from major financial players.
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Still, 89% of the way to 5% of Ethereum's 120.7 million token supply is a staggering concentration.
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Read also: Whale Activity Signals Caution as Bitcoin Holds Near $75K
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The firm hasn't said exactly when it expects to cross the 5% threshold. Sometime in 2026 is the stated expectation — but no hard date was given.
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For now, Bitmine holds 5,390,404 ETH, staking rewards projected at $276 million annually, and $444 million in cash to keep the accumulation going.
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