Bitmine Acquires 40,000 ETH for $71.6M, Total Holdings Hit 5% of Ethereum Supply

ETH-2.15%
According to blockchain analytics firm Lookonchain, Bitmine acquired 40,000 ETH worth approximately $71.6 million on July 8, bringing its total Ethereum treasury to 5,742,237 ETH, or roughly 5% of the token's circulating supply. The transactions were traced through Arkham Intelligence to hot wallets operated by FalconX and Kraken. Approximately 85% of Bitmine's Ethereum reserves have been delegated to staking through MAVAN, its validator network, with earlier disclosures estimating an annual rewards yield of roughly $235 million.
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