Bitmine stakes 5.06M+ ETH, projecting $334M in annual staking income
AI Market Summary
Bitmine's disclosure that it holds ~5.95M ETH (~4.9% of circulating supply) and has staked ~5.06M ETH (85%) highlights increasing institutional-style concentration and yield monetization in Ethereum. The estimated $334M annual staking income underscores the appeal of ETH treasury strategies versus non-yielding BTC holdings. Separately, Strategy's pause in BTC purchases and focus on preferred-share buybacks reduces near-term incremental BTC demand.
Impact level
● High
Affected assets
ETH/USDT+1.34%
AI Insight · ETH/USDTAI Insight
▲ Bullish
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ChainCatcher reported that crypto asset firm Bitmine Immersion Technologies said last week it boosted its Ethereum holdings by 27,180 ETH, lifting its total balance to more than 5.95 million ETH—worth about $15.4 billion and representing roughly 4.9% of Ethereum's circulating supply. Including cash and other crypto assets, Bitmine put its total holdings at around $15.8 billion.
The company said over 5.06 million ETH are currently staked. At prevailing yields, Bitmine estimates annual staking revenue of about $334 million, with roughly 85% of its ETH deployed in staking. For comparison, Grayscale's Ethereum Staking ETF (ETHE) reports a staking ratio of 84.6%.
Because Bitcoin does not offer native staking rewards, Bitmine said the approach provides an edge over treasury strategies focused solely on BTC.
On Monday, Bitmine shares were little changed near $25, after climbing nearly 38% over the past month.
In parallel, Michael Saylor's Strategy extended a two-week pause in Bitcoin purchases and instead continued buybacks of its STRC preferred shares. From Sept. 8 to 13, Strategy spent $139.3 million to repurchase about 1.42 million STRC shares, following $176.3 million in STRC repurchases the prior week. As of Sept. 13, Strategy's Bitcoin holdings were unchanged at 845,050 BTC.
