%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Cryptoprowl / BitMine Immersion Technologies (NYSE: $BMNR ) says it has now staked nearly $142 million U.S. worth of Ethereum (CRYPTO: $ETH ). The crypto acquirer led by investor Tom Lee has moved about 61,000 ETH for staking. The total value of the company's staked Ethereum now stands at $141.95 million U.S. Staking involves locking up assets to support and validate the Ethereum network. In exchange, BitMine earns yield or rewards similar to interest on a bank account. Lee has said that BitMine plans to generate yield from increasingly staking its ETH holdings. The company currently own 4.976 million Ethereum tokens valued at $11.5 billion U.S. BitMine is the largest corporate holder of Ethereum in the world and owns about 4% of the total circulating supply. The company's stated goal is to own 5% of all the ETH that's in circulation. To that end, BitMine has continued buying the cryptocurrency during its recent downturn. Ethereum is currently trading at $2,415 U.S., having risen nearly 5% in the last 24 hours. BMNR stock is down 25% year-to-date and trading at $23.13 U.S. per share.