Bitcoin holds $508M ETH in one day, now controlling 10.5% of Ethereum’s total supply.

TLDR

Bitmine added $508.4M worth of ETH in one day with six large transfers via Coinbase Prime.

The firm now controls 10.5% of Ethereum's total share supply, totaling over 4 million ETH.

Staking removes ETH from circulation, potentially putting long-term price pressure on Ethereum.

Prior to Bitmine's takeover, no corporate entity had ever shared this much of Ethereum's total supply.

Bitmine Immersion Technologies, led by Fundstrat's Tom Lee, added $508.4 million worth of Ethereum in one day.

On-chain data confirmed several large ETH transfers from Arkham Intelligence to Coinbase Prime.

The firm now holds over 4 million ETH stakes through the MAVAN platform. This accounts for 10.5% of the total Ethereum supply, which is approximately $9.3 billion.

A One-Day Movement That Will Change the Ethereum Staking Landscape

Arkham Intelligence tracked six separate transfers from Bitcoin's Coinbase Prime wallets. Each transfer is between 14,400 ETH and 32,400 ETH.

Together, the transactions totaled about $508 million in one big push. No corporate entity has previously included this share of ETH supply.

Bitmin currently holds an active portfolio of over 744,000 ETH valued at $1.7 billion. However, the aggregate standing figures tell a bigger story.

Through the MAVAN staking platform, the organization has now locked more than 4 million ETH into the Ethereum network. That represents more than one-tenth of the total stock offering.

Confirming the extent of the activity, Arkham Intelligence posted on X. “Tom Lee has deposited 508.4M ETH,” he wrote. “Bitmine now has over 4 million ETH stakes worth $9.3B – that's 10.5% of the total ETH supply.” The data left little room for interpretation.

Staking is different from simply holding cryptocurrency. When Bitmine holds ETH, it locks those tokens to keep the Ethereum network secure. In turn, the firm gets a uniform product when it removes that supply from open circulation.

What Bitmine's Strategy Means for Ethereum Supply and Demand

One market watcher said online that the move “shows conviction, not speculation.” Stacking reduces circulation while reinforcing long-term posture. This dynamic is important to how Ethereum trades in the coming months.

Some observers have suggested that Bitmine's heavy buying may be depressing ETH's price in the short term. Large institutional buyers often accumulate quietly before price movements follow. That pattern is well documented in both crypto and traditional markets.

Others have a different view. As this amount of institutional money goes into the stock rather than selling it, it strengthens the supply over time. Less circulation of ETH typically creates upward price pressure as demand grows steadily.

Tom Lee has been building Bitmine's Ethereum position over several months. The process went from frantic shopping to scaled-down skating.

Bitmine is now not only holding Ethereum – it is acting as a major participant in the Ethereum network itself.