Bitmine, the Ethereum reserve company founded by Tom Lee, saw approximately $320 million worth of ETH staked in the past 24 hours, bringing over 70% of its total holdings to staking and earning yield. On-chain data shows that about 75,600 ETH were transferred to Coinbase Prime for staking on Thursday morning, following approximately 61,200 ETH being allocated on Wednesday, marking the first large-scale operation in nearly three weeks. Blockchain analytics platform Lookonchain indicates that Bitmine has now staked approximately 3.5 million ETH, worth about $8.1 billion, representing about 70.1% of its total holdings. Further reports indicate that three new wallets, suspected to be associated with the company, received approximately 100,000 ETH (about $234 million) before Thursday; if true, this would increase its total holdings to approximately 5.08 million ETH. In contrast, SharpLink, the industry's second-largest holder, currently holds only about 869,000 ETH, giving Bitmine a lead of over 580%. The company now controls more than 4.1% of the total Ethereum supply and is approaching its target of 5%.
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