Woofun AI reports that Bitmine increased its Ethereum reserves by 27,801 ETH last week, bringing total holdings to 5.77 million coins. Of this amount, 4.917 million ETH is currently staked, generating an estimated annual income of $242 million based on a 2.70% reward rate.

The firm launched MAVAN, an institutional-grade staking platform, and claims to be the world's largest ETH reserve holder, ranking second globally in crypto assets behind Strategy's BTC holdings.