Bitmine Stakes Over 3 Million ETH, Surpassing 70% Stake Rate
Bitmine’s staking ratio exceeds 70% after adding 140,400 ETH, with annual validator rewards estimated at around $172 million, marking a substantial commitment to Ethereum’s proof-of-stake network.
ETH
Summary
Bitmine staked 140,400 ETH valued at $282 million, raising its total staked amount to 3,037,859 ETH out of 4,325,738 ETH held, exceeding a 70% staking ratio. According to on-chain data, with a 2.8% APR, Bitmine’s validator rewards are estimated at 85,000 ETH annually—worth about $172 million—or roughly 233 ETH ($470,000) daily. This move underscores Bitmine’s strategic focus on long-term network participation and passive income generation through Ethereum’s proof-of-stake mechanism.
Terms & Concepts
- Staking: The process of locking cryptocurrency in a blockchain network to support operations and earn rewards.
- ETH (Ethereum): The native cryptocurrency of the Ethereum blockchain, used for transactions, smart contracts, and staking.
- APR (Annual Percentage Rate): The yearly interest earnings from staking or lending activities, expressed as a percentage of the principal amount.