Bitmain’s chairman, Tom Lee, announced that the company is close to acquiring nearly four percent of Ethereum’s total supply. Recently, Bitmain has accelerated its Ethereum purchases, and Lee emphasized that the company intends to retain its holdings without selling them in the future. The Ethereum acquired by Bitmain can generate net daily income exceeding one million dollars through staking. Ethereum is a prominent blockchain platform used for smart contracts and decentralized applications (dApps), with its cryptocurrency, ETH, serving as the foundation of the network’s utility and popularity. Staking involves locking cryptocurrency for a specified period to support the blockchain’s security and operations, rewarding investors with returns. Bitmain’s increasing stake reflects confidence in Ethereum’s value and long-term utility, while the steady income from staking can help stabilize the company’s financial position. However, due to the volatile nature of cryptocurrency markets, rapid price fluctuations remain a risk that could impact Bitmain’s investment strategy. Over recent years, Ethereum has undergone significant technological upgrades, including Ethereum 2.0, aimed at enhancing network performance and security, which have boosted its popularity and investor interest. Under this strategy, Bitmain may continue to acquire more Ethereum and increase its income through staking while adjusting its investment plans according to market conditions.
Source: binance
