I just saw something interesting about who actually owns Ethereum. Bitmine continues to accumulate tokens like crazy and now controls over 4.5 million ETH. To put it in perspective, that means they own about 3.76% of the total circulating supply.

What caught my attention the most is that over the past week, they bought another 60,976 ETH, taking advantage of the dips we saw recently. With ETH trading around $2.32K now, their total holdings are roughly $10.3 billion. Quite impressive for a single entity that consistently accumulates Ethereum.

The interesting part is that they not only accumulate but also generate yield. They have about 3 million ETH staked, producing annualized income of $174 million with a 2.91% return. That’s quite good compared to other operators. Additionally, they have $1.2 billion in cash, 195 Bitcoin, and other positions.

It seems that Bitmine remains the largest holder of Ethereum worldwide, and the question of who really owns Ethereum increasingly points to these large institutional accumulators. They are developing their own MAVAN infrastructure to scale operations, so we will probably continue to see more moves like this in the coming months.