Bitmine stakes $508M ETH in one day, now controls 10.5% of all staked Ethereum.

Bitmine Immersion Technologies staked $508.4 million worth of Ethereum (ETH) in a single day through six large transfers via Coinbase Prime, now controlling over 4 million ETH or 10.5% of Ethereum's total staked supply. This move locks a significant portion of ETH out of circulation, potentially creating long-term upward price pressure by reducing available supply. Bitmine's staking strategy signals strong conviction in Ethereum's future, as staking secures the network and earns yield, rather than just holding or selling. This large-scale institutional staking could influence Ethereum's market dynamics in the coming months.