Bitmine increased its reserve to 5.77 million ETH — nearly 5% of the total supply
Analyzing the latest data on the movement of funds by major market participants, I have recorded a significant strengthening of Bitmine's positions. Over the past week, the entity acquired 27,801 ETH, bringing its total reserve to 5.77 million coins. This is equivalent to 4.8% of the current circulating supply of Ethereum.
The structure of this reserve deserves special attention. Of the total volume, 4.92 million ETH, or 85%, are staked. Such a high percentage of locked assets indicates the long-term confidence of the Bitmine team in the prospects of the Ethereum network and its profitability as a Proof-of-Stake asset.
Against the backdrop of these figures, a statement by the company's board chairman, Tom Lee, sounded interesting. He noted that the launch of Robinhood Chain contributes to the perception of ETH not just as a technological token, but as full-fledged money. This is an important signal: the integration of Ethereum into the infrastructure of mass platforms (like Robinhood) can indeed change the narrative around the asset, shifting the focus from "gas for smart contracts" to "digital currency for everyday payments."
Expert commentary: The accumulation of 4.8% of the entire Ethereum supply by a single entity is a serious signal of market concentration. Although staking reduces liquid pressure on the market, investors should consider that such a large holder can significantly influence price dynamics with any change in its strategy. Nevertheless, the very fact of such accumulation in the current cycle confirms institutional appetite for ETH as an income-generating asset.