Tom Lee’s BitMine Doubles Down on Ethereum With a $266M Staking Move

TLDR

• BitMine stakes 86,400 ETH, pushing total to 1.08M ETH worth $3.33B.
• Company holds 4.14M ETH, with staked ETH forming 25% of its total assets.
• Ethereum validator queue hits 31+ days due to BitMine’s staking surge.
• Annual ETH staking yields 2.54%, generating potential $1M daily revenue.
• BitMine’s long-term strategy removes ETH from circulation, boosting market impact.

BitMine increased its Ethereum staking with a fresh deposit of 86,400 ETH worth $266 million. The move brings the company’s total staked Ethereum to 1.08 million ETH, valued at approximately $3.33 billion. BitMine’s aggressive staking highlights its strategy of holding Ethereum long-term while expanding operational influence.

The staking transaction occurred through Ethereum’s BatchDeposit contract on January 10. BitMine had previously staked 82,560 ETH worth $259 million five days earlier. This pattern shows a rapid acceleration of Ethereum staking activities by the company.

BitMine began its staking operations on December 26, 2024, depositing about 74,880 ETH worth $219 million. Since then, the company has steadily increased its holdings and staking commitments. Its total Ethereum holdings now represent roughly 3.43% of the circulating supply.

BitMine Strengthens Its Position in Ethereum Staking

BitMine currently holds 4.14 million ETH across all accounts, totaling an estimated value of $12.78 billion at recent prices. The company’s staked Ethereum accounts for about one-quarter of its total ETH holdings. BitMine’s strategy mirrors large-scale treasury accumulation, similar to corporate Bitcoin buying programs.

The company’s staking push contributed to the Ethereum validator queue, extending new validator activation times to over 31 days. BitMine continues to deposit through multiple smaller transactions to manage queue timing efficiently. Its operational planning includes optimizing network participation while maintaining asset security.

BitMine has prepared its internal staking infrastructure, the Made-in-America Validator Network, for a Q1 2026 launch. The program underwent initial trials with three institutional staking providers to assess performance. BitMine’s approach ensures long-term operational readiness and minimizes potential technical risks.

Ethereum Growth and Market Implications

Currently, about 35.5 million ETH, or 29% of total supply, is staked across the network. Annual staking yields hover around 2.54%, generating significant potential revenue for BitMine. Full deployment of its Ethereum treasury could produce over $1 million daily from staking rewards.

BitMine’s consistent accumulation removes supply from circulation, creating potential upward pressure on Ethereum prices. The company’s approach indicates a long-term commitment rather than active trading strategies. Network observers note that large-scale staking can influence validator admission rates and market liquidity.

BitMine’s broader cryptocurrency treasury includes 192 Bitcoins and $23 million in other assets, totaling approximately $13.2 billion. The company’s Ethereum holdings alone form a core component of its digital asset strategy. BitMine’s operations underscore its intent to integrate Ethereum as a central balance sheet asset.

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