According to @MilkRoadDaily, BMNR now holds over 3 million ETH, valued at more than $12 billion and equal to roughly 2.5% of the total ETH supply. Source: @MilkRoadDaily on X, Oct 14, 2025, https://twitter.com/MilkRoadDaily/status/1978203936332148807 This size implies an approximate reference price near $4,000 per ETH from the reported figures (12B divided by 3M), a useful anchor for assessing potential cost-basis risk if the position changes. Source: @MilkRoadDaily on X, Oct 14, 2025, https://twitter.com/MilkRoadDaily/status/1978203936332148807 For traders, monitor on-chain movements from the BMNR holder to exchanges, changes in its wallet balance, and staking deposit patterns, as such a concentrated position can materially affect ETH order-book liquidity and short-term volatility if moved. Source: @MilkRoadDaily on X, Oct 14, 2025, https://twitter.com/MilkRoadDaily/status/1978203936332148807