BitMine's $390M Ethereum Deposit Signals Major Supply Shift
BitMine's latest $390.6M ETH staking deposit brings its total stake to over 5.227 million ETH, approaching 5% of Ethereum's total supply.
BitMine's latest $390.6M ETH staking deposit brings its total stake to over 5.227 million ETH, approaching 5% of Ethereum's total supply. Ethereum (ETH) is trading at ₹2,27,631 ($2,406.40), up 0.3% since this brief published. This is an original Token Times brief synthesising 3 outlets (The Coin Republic, Bitcoin.com, CoinCodex), with their figures cross-checked, plus live market data, as of Thu, 22 Oct 2026 15:00:01 UTC.
This significant accumulation of Ethereum by BitMine could reduce market liquidity and potentially impact price dynamics, especially as the company nears its self-imposed 5% supply cap. The move also reflects growing institutional confidence in Ethereum's staking model.
- BitMine deposited 159,728 ETH ($390.6M) into staking on October 21, 2026.
- The company's total ETH stake now exceeds 5.227 million coins.
- BitMine is nearing its self-imposed cap of 5% of Ethereum's total supply.
- Ethereum price down 2.87% in 24 hours amid broader market decline.
Multiple outlets (The Coin Republic, Bitcoin.com, and CoinCodex) confirm that BitMine deposited 159,728 ETH ($390.6M) into staking, bringing its total stake to over 5.227 million ETH. They agree that BitMine is approaching its self-imposed cap of owning 5% of Ethereum's total supply, a limit reportedly encouraged by Vitalik Buterin. However, while Bitcoin.com and CoinCodex emphasize that BitMine will stop buying once the 5% threshold is reached, The Coin Republic focuses more on the staking aspect and the broader implications for Ethereum's supply dynamics.
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- Ethereum Staking Hits New High: 35.9% of Supply Now Staked
- BitMine Stakes $400M in Ethereum, Expanding Staking Portfolio
- Ethereum Approaches November Below $2,500 Amidst Mixed Market Signals
- BitMine's $390M Ethereum Deposit Signals Major Supply Shift — this brief
On October 21, 2026, BitMine made a significant deposit of 159,728 ETH, worth approximately $390.6 million, into 
Ethereum staking. This move, reported by The Coin Republic, represents one of the largest corporate staking deposits in Ethereum's history.
According to 
Bitcoin.com and CoinCodex, this deposit is part of BitMine's ongoing campaign to accumulate Ethereum, which has seen the company become one of the largest holders of the cryptocurrency. The company is now just 100,000 ETH away from reaching its goal of owning 5% of Ethereum's total supply.
The Coin Republic highlights that this move reduces the liquidity of Ethereum, as the staked coins are locked up for an extended period. This could have implications for market dynamics, particularly if other large holders follow suit.
Bitcoin.com and CoinCodex both cite Tom Lee, Chairman of BitMine, who stated that the company will cease its buying activities once it reaches the 5% threshold. This limit was reportedly encouraged by Ethereum co-founder Vitalik Buterin, indicating a strategic decision rather than a response to market conditions.
In the broader market context, Ethereum's price has declined by 2.87% in the past 24 hours, trading at $2398.87, while the overall crypto market cap stands at $2.8 trillion. The Fear & Greed Index remains in 'Greed' territory at 68, suggesting that while the market is down, investor sentiment remains relatively positive.
Since this brief published about 3 hours ago, Ethereum (ETH) has moved from ₹2,26,918.40$2,398.87 to ₹2,27,630.69$2,406.40 — +0.31%.
The chart plots ETH's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 ETH ≈ ₹250,867.2 (about $2,406.40), down 3.4% over 24 hours. The rupee itself trades about 10.2% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 3 outlets reporting this story.
Token Times extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
BitMine's $390M Ethereum Deposit Signals Major Supply Sh — questions & answers
What is BitMine's total Ethereum stake after this deposit?
BitMine's total Ethereum stake now exceeds 5.227 million ETH.
Why is BitMine's accumulation of Ethereum significant?
It reduces market liquidity and could influence price dynamics, especially as the company nears its 5% supply cap.
What is the current price of Ethereum?
Ethereum is trading at $2398.87, down 2.87% in the past 24 hours.
How much is 1 Ethereum worth in rupee today?
About ₹250,867.2 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $2,406.40. The rupee price moves with both ETH's US-dollar price and the USDT/INR rate; use our Ethereum in rupee page for any amount.
Has Ethereum's price moved since this brief was published?
ETH is up 0.31% since this brief first published — trading at ₹2,27,631 ($2,406.40) now versus ₹2,26,918 ($2,398.87) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from The Coin Republic, Bitcoin.com, CoinCodex, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.