Bitmine Stakes $289.4 Million in Ether in a Week, Holds 4.8% of Total Supply

Bitmine, led by Tom Lee, staked about $300 million worth of Ether over the past week.

Blockchain analytics platform Arkham wrote on X on Aug. 12 that Bitmine staked $289.4 million worth of ETH during the period.

That lifted Bitmine’s staked ETH to 4.2% of Ethereum’s total supply.

Bitmine also continued to buy more Ether alongside its staking activity. Arkham said the company purchased an additional $14.25 million worth of ETH over the same period.

Bitmine now holds 4.8% of Ethereum’s total supply.