Key facts: BMNR Holds 4.97% of ETH Supply; Stakes 5.23M ETH

What happened

BitMine held 6,070,092 ETH on Nov. 8, equal to 4.97% of supply, after adding 9,587 ETH in a week. It reported 5.23 million ETH staked, worth about $11.7 billion at $2,234 per ETH, and said its holdings were approximately 99% of its target of 5% of supply.

Confirmed

Global impact / market context

Staking means committing ETH to support the network in return for rewards. BitMine reported a 2.65% seven-day staking yield and $309 million in annualized revenue, so changes in ETH holdings, yields, or staking participation could affect the income it reports and the amount of ETH available to sell.

Analyst inference

The article says BitMine launched MAVAN in early 2026 for its own Ethereum treasury and later expanded it to institutions, custodians, and ecosystem partners. If those groups use the platform, staking could become a larger business, but the article gives no adoption or realized-revenue figures.

Analyst inference

What to watch

1. Check later reports for changes in the 6,070,092 ETH holding and progress toward the stated 5% supply target; additions or sales would change its reported share. Analyst inference
2. Watch disclosed staking yield and realized revenue against the reported 2.65% yield and $309 million annualized figure; annualized revenue is a run-rate, not necessarily cash already earned. Analyst inference
3. Look for evidence that institutions, custodians, or ecosystem partners are using MAVAN, since the article describes expansion but provides no customer numbers or platform revenue. Analyst inference

Affected assets

• ETH — Ethereum

Evidence

• Original source link unavailable