$ETH Here’s the latest and most comprehensive update on BitMine’s Ethereum staking milestone:
CoinCentral
Live Bitcoin News
BitMine (BMNR) Stock: Rises as Massive Ethereum Staking Push Tightens Market Supply
BitMine’s $5.6B Ethereum Gamble: What the ETH Supply Crunch Means for Crypto
Yesterday
Yesterday
📊 What Happened
BitMine **has now staked over 1.77 million ETH (~1,771,936 tokens) on the Ethereum network. �
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The staked ETH is valued at roughly $5.6 billion at current market prices. �
CoinCentral
This latest increase came from a fresh deposit of around 86,848 ETH (~$277 M), added recently. �
Blockchain News
🧠 Why It Matters
1. Institutional Confidence & Supply Impact
BitMine’s growing stake highlights significant institutional conviction in Ethereum’s long-term potential, with major capital committed to locking ETH rather than selling it. �
CoinCentral
Large-scale staking removes ETH from liquid supply, which reduces tradable inventory and can create upward price pressure over time as available tokens tighten. �
Live Bitcoin News
2. Exchange Balances Declining
BitMine’s deposits coincide with Ethereum balances on centralized exchanges hitting multi-year lows, further tightening supply. �
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3. Strategic Positioning
BitMine now commands one of the largest corporate ETH treasuries in the crypto space, intensifying its role as a major institutional ETH steward. �
KuCoin
📌 Bigger Picture
Ethereum staking yields rewards while contributing to network security and decentralization under the proof-of-stake model — something institutions find increasingly attractive.
BitMine’s strategy mirrors a broader trend of long-term holders accumulating and staking rather than trading tokens.
Significant ETH being locked up could influence market dynamics, including liquidity and price volatility.
If you’d like, I can also explain how this might affect Ethereum prices or staking rewards going forward.
#BitMine #Ethereum #ETHStaking #CryptoNews #Blockchain $ETH