Bitmain Adds 740 ETH in a Week… Secures 4.8% of Ethereum Supply

Bitmain has increased its Ethereum holdings to 5.78 million, securing 4.8% of the total supply. According to Coin Telegraph, Bitmain's recent purchase of 7,430 ETH brings its accumulation close to the 5% target for the total Ethereum supply. Approximately 4.9 million ETH held by Bitmain are staked through its own validator network and partners, representing about 85% of its total holdings. The company reported a combined asset value of $1.15 billion, including 207 bitcoins and $385 million in cash and securities. Bitmain also repurchased 5.5 million shares under its $4 billion buyback program. The company reported $45.7 million in staking and validation revenue over the past three months, accounting for 98% of its total revenue. This follows Ethereum's relative strength, with a 7.71% rise in the past week and over 10% gain in the last month, compared to Bitcoin's 4.8% and 2.6% gains. Strategic investors like Strate have shifted focus from Bitcoin to stock sales, increasing cash reserves. Ethereum's ecosystem expansion is also evident, with Robinhood launching its Arbitrum-based Layer 2 network, Robinhood Chain, which attracted over $141 million in bridged ETH within two weeks.