BitMine Shows Signs of Buying 60,000 More Ether

BitMine appears to have amassed more than $100 million worth of Ether.

Arkham Intelligence data on May 22 showed that a total of 60,000 Ether was recently deposited into two newly created crypto wallets believed to belong to BitMine. The tokens are worth about $125.9 million.

The holdings were traced from crypto exchange Kraken and digital-asset custodian BitGo to wallets linked to BitMine.

As of May 17, BitMine held 5,278,462 Ether. That equals 4.37% of Ethereum's circulating supply of 120.7 million ETH. Of that total, 4,712,917 Ether, worth about $10.3 billion, is currently staked. Annual staking income is estimated at about $289 million.