BitMine stock nears golden cross as ETH holdings approach 5% of supply
- —BMNR trades at $27.82 versus a year-to-date low of $12.80
- —ETH holdings top 6 million coins, about 4.9% of supply
- —Annualized staking revenue is $358 million on 5.1 million staked ETH
- —Market cap of $16.6 billion against $16.2 billion in ETH holdings
Why it matters: Approaching 5% of Ethereum's supply cements BitMine's role as one of the largest corporate ETH holders and a growing staking player.
Source: Invezz