BitMine, a subsidiary of Tom Lee Immersion Technologies, has pledged an additional 86,400 ETH worth 266 million dollars.
The deposit represents the total amount of Ethereum pledged by the company at 1.08 million ETH, valued at approximately 3.33 billion dollars.
BitMine holds 4.14 million ETH, representing 3.43% of the total Ethereum supply, according to the company's statement on January 4.
What happened
The staking transaction was processed via Ethereum's BatchDeposit contract on January 10.
Previously, BitMine had deployed 82,560 ETH worth $259 million on January 5, demonstrating a clear acceleration in staking activity.
The company launched its staking operations on December 26, 2024, depositing approximately 74,880 ETH worth of $219 million.
BitMine plans to launch its 'Made-in-America' validator network in Q1 2026 after completing pilot programs with three institutional staking providers.
At current staking yields of around 2.8%, BitMine could generate over $1 million per day once its entire treasury is deployed.
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Why this matters
This aggressive staking strategy reflects a long-term holding intention rather than active trading activity.
Lee predicted that Ethereum could reach between $7,000 and $9,000 by early 2026, citing tokenization as the primary growth driver.
Large-scale staking by companies removes assets from circulation, which could amplify price movements when demand increases.
BitMine's contributions to the validator queue have extended the activation time for new validators to approximately 31 days.
The company's treasury strategy reflects Strategy's Bitcoin accumulation model, positioning Ethereum as a central asset on its balance sheet.
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