That brings the company’s total staked Ethereum to over 5 million ETH, a figure that should make anyone paying attention to Ethereum’s supply dynamics sit up a little straighter. The firm, led by chairman Tom Lee and traded on the NYSE under ticker BMNR, now holds approximately 5.8 million ETH in total. What 5 million staked ETH means for the networkFrom a supply perspective, 5.8 million ETH sitting in one company’s wallet, with the vast majority staked and therefore illiquid, creates meaningful scarcity pressure. What this means for investorsIf Bitmine is generating $247 million to $290 million annually from staking rewards, that creates a self-reinforcing accumulation cycle. Staking rewards get reinvested, the ETH pile grows, more staking rewards follow.