Svmuu Bitmine, the Ethereum reserve company founded by Tom Lee, has staked approximately $320 million worth of ETH in the past 24 hours, bringing the proportion of staked assets in its overall holdings to over 70% for generating yield.
On-chain data shows that approximately 75,600 ETH were transferred to Coinbase Prime for staking early Thursday morning, following the allocation of around 61,200 ETH on Wednesday. This marks the first large-scale operation in nearly three weeks.
Blockchain analytics platform Lookonchain indicates that Bitmine has now staked a total of approximately 3.5 million ETH, valued at around $8.1 billion, accounting for about 70.1% of its total holdings. Separately, reports suggest that three new wallets, potentially linked to the company, received roughly 100,000 ETH (about $234 million) before Thursday. If confirmed, Bitmine's total holdings would rise to approximately 5.08 million ETH.
In comparison, the industry's second-largest holder, SharpLink, currently holds only about 869,000 ETH, meaning Bitmine's scale leads by over 580%. The company now controls more than 4.1% of the total Ethereum supply, edging closer to its 5% target.