Key Insights
- BitMine has staked $745 million in ETH over the last 24 hours.
- The massive staking activity means that it has staked more than half of its $12 billion ETH holdings.
- BitMine stock is struggling amidst the ETH decline, but the company remains bullish.
BitMine Immersion staked 250,912 ETH. The value reached about $745 million. The move happened in the last 24 hours. The company strengthened its digital asset treasury.
The company has now staked 2,582,963 ETH. The value stands at about $7.67 billion. It has accumulated this since it began acquiring ETH. The move marks a major milestone in its holdings.
On-chain analytics company Arkham Intelligence first reported the staking. They noted that BitMine moved funds in batches to the staking address.
61% of BitMine Holdings Staked as it Targets Almost $200 Million in Annual Yield
The latest staking comes a few days after BitMine announced that it now holds 4.24 million ETH worth over $12 billion. Its latest purchase was two days ago, when it acquired 40,302 ETH.
Bitmine now controls 3.52% of the total ETH supply and is nearing its 5% target. It is by far the largest ETH holder, with the next-largest being SharpLink Gaming, which holds less than 1 million ETH.
Interestingly, it has already staked more than 60% of its ETH holdings, making it one of the biggest individual stakers. The company focuses on ETH staking. The move is not surprising. It shows commitment to staking. The strategy generates yield from Ethereum holdings.
According to BitMine chairman Tom Lee, the company’s annualized staking reward is around $180 million. Already, its staking operations have added over 170,000 ETH to its holdings as of its last reporting period.
However, it could generate almost $400 million in annualized revenue if it eventually stakes all its ETH holdings. The company has relied on third-party providers.
It now plans to launch its own validator network. The network will be Made in America. It will partner with major staking providers this year.
Meanwhile, BitMine’s massive staking activity is affecting the Ethereum network. The queue of new validators waiting to join the network has reached a record high of 3.7 million. It will take almost 65 days for all the ETH to be staked.
BitMine Bullish on ETH Despite Volatile Performance
Despite BitMine’s yield generation and ETH accumulation, the company’s stock, BNMR, has struggled. BMNR is currently trading around $28, down 4% today, and has lost 9% of its value this year.
It is the investors who bought it at the peak in July 2025 who have suffered the most losses. Even newer investors who gained exposure around four months ago are already down almost 50%.
The decline is not surprising given how volatile ETH has been over the past few months. The altcoin fell below $4,000 in October. It has struggled to hold the $3,000 level. Today it dropped 4%. It now trades near $2,900.
However, BitMine remains very bullish on ETH’s potential, with Chairman Tom Lee stating that a rebound is imminent. Lee sees precious metals rising. Gold and silver gain value. He views this as a setup. BTC and ETH may soon surge.
Interestingly, part of the bullish sentiment around Ethereum stems from the belief that it will become the global payments layer. Fidelity launched its stablecoin on Ethereum.
The move added strength to the market. Developers introduced the ERC-8004 standard for AI agents. This launch boosted innovation. Both events fueled strong momentum.
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