Renowned crypto investment firm BitMine has decided to play the long game, doubling down on Ethereum accumulation and staking like it’s 2021 all over again. If only they’d remembered how to pick a winner back then.
The company, chaired by pro-Ethereum advocate Tom Lee-who somehow still believes in “blue sky” dreams-has committed to buying Ethereum “regardless of market conditions.” Presumably, even if it’s raining crypto bears.
70.12% of Tom Lee’s Ethereum Staked
After hoovering up over 4% of Ethereum’s total supply (because why not?), BitMine has now staked 70.12% of its holdings. A bold move, or a desperate attempt to out-stake Vitalik himself.
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On Thursday, April 23, blockchain monitoring firm Lookonchain revealed that BitMine added 93,600 ETH ($218 million) to its staked balance. They did this through Coinbase Prime, splitting it into six transactions like they were trying to avoid suspicion-or just had poor organizational skills.
With this move, BitMine now stakes 3,489,469 ETH, valued at $8.13 billion. That’s enough to buy a small island… if Ethereum ever recovers.
BitMine Tightens Ethereum Supply
Let’s be real: holding Ethereum is clearly BitMine’s long-term plan. They’ve locked up over 70% of their stash to earn yield-because nothing says “I trust this” like turning your assets into a digital time capsule.
Their staking ratio is so high, it’s practically a red flag for short-term traders. But hey, if you’re betting Ethereum will hit the moon, who needs liquidity anyway?
By staking nearly all their ETH, BitMine isn’t just bullish-they’re practically Ethereum’s personal cheerleader. And by reducing circulating supply, they’re giving the market a nudge toward higher prices. Or maybe just hoping for a miracle.
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2026-04-23 19:04