Just noticed Bitmine's been quietly building up its Ethereum position. They're now holding over 4.5 million ETH, which puts them as the largest single holder of Ethereum globally. That's roughly 3.76% of the total supply circulating right now. Pretty wild when you think about who owns Ethereum at this scale.

What caught my eye is they're not just sitting on these coins. About 67% of their holdings are staked and generating yield through their validator infrastructure. At current rates, that's bringing in serious staking revenue annually. They've also got nearly $1.2B in cash plus some Bitcoin holdings, so their total crypto position is pushing over $10B. The infrastructure they're building out (MAVAN) looks like they're prepping for even bigger scale soon.

If you're curious about who owns Ethereum and how the major players are positioning themselves, this is a good example of the institutional accumulation happening right now. The fact that they're close to hitting a 5% ownership milestone is pretty significant for where Ethereum concentration is heading.