Bitmine looks to expand its Ethereum staking footprint as part of its evolving treasury strategy.
Summary
- Bitmine staked 19,200 ETH worth approximately $60 million, bringing the total stake of ETH to $2.62 billion.
- The company now controls over 4 million ETH, the largest known corporate ETH treasury.
- Staking activities support the planned launch of Bitmine’s US-based validator network in 2026.
Bitmine continues its Ethereum-first treasury push as staking activity continues to increase.
The latest data was shared on January 8 after on X by on-chain analytics platform Onchain Lens, which tracked Bitmine’s most recent Ethereum (ETH) staking transaction.
The stakes total soars past $2.6 billion
According to the data, Bitmine staked an additional 19,200 ETH worth approximately $60.85 million, bringing the total staked balance to approximately 827,008 ETH. At current prices, that stack is valued at about $2.62 billion.
The move extends a rapid deployment that began in late December. Bitmine first initiated Ethereum staking on December 27, with 74,880 ETH. Since then, deposits have grown steadily, including 82,560 ETH added in early January and a much larger stake of 186,336 ETH on January 6.
With the latest addition, nearly a fifth of the company’s ETH holdings are now actively invested. Ethereum’s current staking yield is almost 2.8%, implying an annual return that could reach tens of millions of dollars if Bitmine continues to deploy capital at this pace.
Ethereum’s treasury strategy is taking shape
Bitmine now holds over 4.07 million ETH, valued at approximately $12.8 billion, representing approximately 3.4% of Ethereum’s total supply. That makes it the largest known corporate holder of ETH and places it second among digital asset treasuries, behind only Strategy’s Bitcoin (BTC) holdings.
Across the market, 68 ETH reserve companies collectively own approximately 6.81 million ETH, worth an estimated $21.4 billion, or approximately 5.6% of the supply. Compared to other ETH-focused sovereigns like SharpLink Gaming, Bitmine alone makes up a significant portion of that total.
Under Tom Lee’s leadership, the company’s primary focus has shifted from immersion cooling to large-scale digital asset accumulation. Staking and weekly ETH purchases have persisted, solidifying Ethereum’s position as the centerpiece of the balance sheet.
Validators, market impact and next steps
The company is getting ready to launch its “Made-in-America Validator Network” (MAVAN), which will run Ethereum validators in the United States. Although previous guidance pointed to a rollout in the first quarter of 2026, the validator queue has already seen periods of congestion, driven in part by large institutional deposits like Bitmine’s.
Reactions to the concentration of strike activity were contradictory. As more ETH flows to a small number of company-controlled validators, some analysts have raised concerns about centralization.
Bitmine’s next shareholder meeting is scheduled for January 15 in Las Vegas, where Lee is expected to provide further details on the company’s deployment plans, validator rollout and Ethereum’s broader positioning.
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