Bitmine stakes 159,728 ETH worth $390.6 million
CIE News ·
Based on reporting by Bitcoin.com News; not yet independently confirmed.
Bitmine deposited 159,728 ETH into Ethereum staking contracts on October 21, lifting its total staked balance to roughly 5.23 million ETH worth nearly $12.8 billion, according to reports.
Corporate treasury firm Bitmine deposited 159,728 Ethereum (ETH) valued at roughly $390.6 million into native proof-of-stake validator contracts on October 21, according to Bitcoin.com News and KuCoin. The transaction brought the firm's total staked holdings to between 5.227 million and 5.23 million ETH, which is valued at nearly $12.78 billion.
The addition lifts the share of Bitmine's treasury allocated to staking to 86.5%, Bitcoin.com News reported. With total holdings exceeding 6 million ETH, the firm holds roughly 4.9% of the circulating supply of 122.1 million ETH, placing it about 63,500 ETH away from its stated 5% target. Bitmine estimates that the newly deposited tokens will produce approximately $10 million in annualized rewards.
KuCoin reported that 1.33 million ETH remained queued to enter staking with a wait time exceeding 23 days, compared to 149,000 ETH waiting to exit over less than four days.
Key facts
- 159,728 ETH staked
- $390.6M transaction value
- 5.23M total ETH staked
- 4.9% of circulating supply held
Read the original at Bitcoin.com News