Ethereum is up nearly 5% over the last week, though it's been a volatile one. The second-largest cryptocurrency by market cap jumped to a price of $2,179 on Wednesday alongside a broader crypto market rebound, but then gave up those gains and fell below the $2,000 mark as of Friday. It remained below that level until early hours Monday.
The price of Ethereum has fallen 59% since setting a new all-time high mark of $4,946 last August. However, after months of losses, ETH is nearly even over the last 30 days per data from CoinGecko.
BitMine has staked about $6 billion worth of its ETH holdings to earn yield from the Ethereum network, and plans to fully stake all of its holdings with the upcoming launch of its own Made in American Validator Network (aka MAVAN). Once fully staked, the firm expects to earn approximately $259 million a year in yield based on current rates.
