How Bitmine could surpass its 5% Ethereum goal without buying more ETH
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7 Articles
BitMine accumulates ETH at a rate that already leaves it at the edge of 5% of the total supply of Ethereum. The company, which is listed in the Nasdaq, closed August with 5,901,112 ether in its treasury after purchasing 53,501 tokens during the week ending August 30, and has more than 5 million of those coins deposited in stacking (the mechanism by which they block each other to validate the network in exchange for rewards). The figure turns Bit…
Bitmine Nears 5% Ethereum Target as Staking Rewards Strengthen Its Position
TLDR: Bitmine added 53,501 ETH through Aug. 30, lifting its disclosed Ethereum treasury to 5.9 million tokens. More than 5.06 million ETH are staked at a 2.67% annualized yield, creating a powerful rewards engine. A modeled year of staking could generate about 135,000 ETH, nearly matching Bitmine’s remaining gap. An additional 51,000 ETH purchase would [...]
Bitmine reported holdings of 5,901,112 ETH after acquiring 53,501 tokens during the week ending August 30. Her staging rewards could close part of the gap towards the goal of controlling 5% of Ethereum, although the result will depend on how much ETH the company keeps and the denominator used to calculate that percentage.
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