Bitmine’s Staked Ether Reaches 1.5m, Equating To 4% Of Total Staked - Expert Insights

BitMine staked another 186,560 Ether, bringing its total staked to 1.53 million, which is valued at over $5 billion.

Ethereum digital asset treasury (DAT) BitMine has just staked another huge batch of Ether, bringing its total amount staked to over 1.5 million ETH.

Tom Lee-chaired BitMine Immersion Technologies (BMNR) added 186,560 ETH (worth around $625 million) to the “Beacon Depositor” address, reported Lookonchain on Wednesday.

This brings the total amount staked by the world’s largest Ethereum (ETH) DAT to 1,530,784 ETH, worth approximately $5.13 billion, equating to 4% of the total 36 million ETH staked on the Beacon Chain.

This share could still increase as the company holds a total of just over 4 million ETH, of which 37% has now been staked.

The move comes just a few days after it crossed the 1 million milestone in staked Ether.

On Monday, the firm reported that it held 4,167,768 ETH, 192 Bitcoin (BTC), almost a billion dollars in cash, and a $23 million stake in Eightco Holdings.

Meanwhile, the Ethereum staking validator entry queue has skyrocketed to 2.3 million ETH, its highest level since August 2023.

BitMine stock climbed 3.8% in after-hours trading on Tuesday to reach $32.35, according to Google Finance.

The company has had a solid start to the year, with share prices gaining 11.5% year to date in tandem with the broader rise in crypto markets.

Source: CoinTelegraph