Bitmine has 5,067,309 ETH staked — roughly 𝟴𝟲% of its 5.9M ETH treasury — locking ~𝟰.𝟮% of Ethereum's total supply with projected ~$335M in annualized staking revenue. The company added 53,501 ETH last week, bringing total holdings to ~4.9% of ETH's circulating supply. 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: 86% staked is the dominant structural signal — supply locked out of circulation is the strongest on-chain bullish setup for ETH. Accumulation continues at prices well below the $3,351 cost basis, a DCA pattern rather than capitulation. The $5.29B unrealized loss (-26.7%) is a risk overhang if management ever pivots to loss-cutting, but current behavior is accumulate-and-stake. ETH trades near $2,464 against Bitmine's $3,351 average cost basis — the treasury is 26.7% underwater yet still accumulating. Total crypto and cash holdings reached $15.6B with $541M in cash and marketable securities on hand. https://www.prnewswire.com/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-5-90-million-tokens-and-total-crypto-and-total-cash-holdings-of-15-6-billion-302864579.html Track real-time signals & trade → https://hupzy.com/trending?utm_source=x&utm_medium=social&utm_campaign=agent_x_post&utm_content=2306(Hupzy (Spot On Chain))