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Bitmine Stakes $219M ETH in First Move Amid Price Weakness

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ETH
$2,929.780.12%
Bitmine Immersion staked 74,880 ETH, worth $219 million, in its first ETH analysis-driven staking move. The firm is pivoting from holding to generating yield as ETH price remains under pressure. Annual rewards could top 100,000 ETH at 3% yields. The action shows long-term ETH price conviction despite unrealized losses on its large ETH holdings.
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