On-chain analytics firm Lookonchain put Bitmine Immersion Technologies, Inc.'s staked Ether (ETH) balance at about 5.23 million on Oct. 21, following a 159,728 ETH deposit.
The total works out to 5,227,037 ETH. Lookonchain valued the new stake at about $390.6 million and the full staked position at roughly $12.78 billion. Those dollar estimates change with Ether's price.
Bitmine said in an Oct. 19 release that its Oct. 18 snapshot showed 6,041,481 ETH in total holdings and 5,067,309 ETH staked, or about 84%. Lookonchain's 5.23 million ETH tally equals 86.5% of that last-reported holdings total, about 2.5 percentage points above the earlier share. EconoTimes previously covered Bitmine's Ether holdings snapshot.
Bitmine has described staking rewards as an incentive for its treasury strategy. Its release also identifies Ether price volatility and potential staking losses as risks. On Ethereum, staked Ether supports transaction validation, and validators can receive rewards.
