BitMine Stakes Additional $214 Million in Ether, Bringing Total to 9.5% of Network
Summary
- BitMine recently staked an additional $214 million worth of Ether.
- That brought BitMine's total staked Ether to about $8.45 billion, or roughly 9.5%% of the network total.
- Industry participants said BitMine's expanded staking could affect Ethereum's circulating supply and its medium- to long-term supply-demand structure.
Forecast Trend Report by Period
Corporate staking is accounting for a growing share of the Ethereum market.
BitMine recently staked an additional $214 million worth of Ether, Arkham Intelligence said on its official X account on April 28.
That brought BitMine's total staked Ether to about $8.45 billion, equal to roughly 9.5% of all Ether staked across the network.
Markets are focusing on BitMine's efforts to strengthen its yield strategy by combining staking with holdings rather than simply retaining the token. The company, led by Tom Lee, has continued buying Ether while raising the share of its holdings that it stakes.
Industry participants say the move could reduce Ethereum's circulating supply. An expansion in corporate staking demand could also affect the token's medium- to long-term supply-demand structure.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
