Over the past week, Bitmine has added 27,801 ETH to its reserves, bringing the total reserve to an impressive 5.77 million coins. This accounts for 4.8% of Ethereum's current circulating supply — a metric that is already hard to ignore.
Notably, 4.92 million ETH, or 85% of the total reserve, is currently staked. This is not just passive storage but a strategic move generating steady income in the form of network validation rewards. Such an approach demonstrates Bitmine's long-term confidence in the asset and its ecosystem.
Separately, the statement from Chairman of the Board Tom Lee is worth highlighting. He emphasized that the launch of Robinhood Chain plays a key role in strengthening the perception of ETH as full-fledged money. This is not merely a technical innovation — it is a shift in market mentality, where Ethereum is beginning to be seen not as a speculative instrument but as a basic unit of account.
My analysis: The increase in reserves to 5.77 million ETH is a signal for institutional players. Bitmine is not just accumulating the asset but actively using it in staking, which reduces market liquidity and could create a supply shortage. If this trend continues, we may see increased price pressure on ETH in the medium term.