Bitmine Immerses Deeper into ETH with 45,759 Coin Haul
Ethereum treasury heavyweight Bitmine has ramped up its holdings, acquiring 45,759 ETH for $90.83 million, elevating its portfolio to 4.37 million ETH valued at $8.68 billion. This accumulation arrives as ETH faces price headwinds, yet the Ethereum Proof-of-Stake contract now locks over 50% of total supply for the first time—a testament to yield-chasing conviction.
White Rhino Marketing's February 17 update flagged Bitmine's buy as prime accumulation amid a $2.42 trillion market cap and Fear and Greed at 10, alongside MicroStrategy's BTC grab and Metaplanet's surge. Pawnie's subsequent recap tied it to broader trends, with BlackRock gearing up ETH staking ETFs yielding up to 95% participation and Grayscale launching Sui staking products at 1.7-3.3%. Bitmine embodies the shift toward ETH as a productive asset. Staking rewards, now amplified by institutional inflows, counter recent weakness, especially as stablecoin supply hits $300 billion for payments. Unlike volatile trading, this firm's strategy harvests yields while betting on network upgrades and layer-2 scaling to drive demand. In a landscape of DeFi hiccups like Moonwell's oracle glitch spawning $1.78 million bad debt and ZeroLend's TVL collapse, Bitmine's steady stacking highlights disciplined positioning. River's 2025 report notes institutions bulking BTC but ETH's utility edge—via RWAs up 13.5% and tokenized gold forecasts at $15 billion—positions it for rebound as Wells Fargo eyes $150 billion tax-season flows.
Bitmine's aggressive ETH scoop counters selling pressure, affirming smart money's rebound thesis and staking yield allure for holders. This bolsters ETH's resilience, potentially igniting ETF staking launches and drawing retail back amid prediction market expansions. For ETH loyalists, it's a floor-builder amid outflows, signaling accumulation ahead of macro pivots.
Bitmine's ETH fortress grows stronger, underscoring accumulation as the path through chop. With PoS dominance and institutional bets mounting, Ethereum's yield machine hums on. Holders, this is your cue to stack patiently.