Bitmine Immersion Technologies staked an additional 140,400 ETH, bringing its total staked volume to nearly 3 million ETH. This total staked position is valued at approximately $6 billion. Staked assets now represent 68.7% of the company's total Ethereum holdings.
The company continues to utilize Ethereum as its primary treasury reserve asset. In a separate development, the State of Michigan Retirement System disclosed a new $3.12 million investment in Bitmine. This follows several other recent institutional purchases.
Despite these institutional developments, retail sentiment on platforms like Stocktwits trended bearish during pre-market trading.