Bitmine Stakes Another $320M in ETH, Lifting Staked Share Above 70%

Bitmine, an Ethereum reserve firm founded by Tom Lee, added about $320 million worth of ETH to staking in the past 24 hours, pushing the portion of its holdings that are staked to more than 70%. On-chain data shows roughly 75,600 ETH was sent to Coinbase Prime for staking early Thursday, after the company configured about 61,200 ETH on Wednesday. The moves mark Bitmine's first large-scale staking operation in three weeks. Blockchain analytics platform Lookonchain said Bitmine now has around 3.5 million ETH staked, valued at about $8.1 billion, representing roughly 70.1% of its total holdings. Separately, reports said three newly identified wallets that may be tied to Bitmine received about 100,000 ETH (around $234 million) ahead of Thursday. If confirmed, Bitmine's total holdings would climb to approximately 5.08 million ETH. By comparison, the industry's second-largest holder, SharpLink, holds about 869,000 ETH, leaving Bitmine ahead by more than 580%. Bitmine now controls over 4.1% of Ethereum's total supply and is nearing its 5% target.