BitMine staked an additional 159,728 ether. Blockchain media outlet U.Today reported on Oct. 21 local time that the amount was worth about $390.6 million.
The move lifted BitMine's total staked amount to 5.23 million ether. The holding is valued at about $12.78 billion. As of Oct. 21, BitMine had committed 86.5 percent of its total Ethereum holdings to staking.
BitMine's Ethereum holdings amount to about 5 percent of circulating supply. As a result, BitMine has further increased its presence among corporate Ethereum holders.
Ethereum's price also rebounded. After experiencing sharp volatility in recent weeks, it rose about 2.78 percent over 24 hours to trade around $2,450.
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Hyunwoo Choo
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