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BitMine now controls 4.47% of Ethereum supply, raising concerns over network governance risks.

Market News
26 May 2026
Crypto news
View Source
Neutral
pluang ai news

BitMine Immersion Technologies has quietly increased its Ethereum holdings to 5.39 million ETH, about 4.47% of the total supply, nearing its goal of owning 5%. The company has staked roughly 4.71 million ETH, generating an estimated $276 million annually from staking rewards. This concentration of ETH in one corporate treasury raises concerns about centralization risks and potential influence over Ethereum's network governance and consensus. While beneficial for BitMine's shareholders, this shift could make Ethereum's network more vulnerable to political and regulatory pressures as the company transitions from accumulation to staking and yield harvesting.

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