Bitmine Stakes 61,232 ETH, Staked Holdings $7.88B

Bitmine Immersion Technologies staked an additional 61,232 ether (ETH) in its latest transaction, roughly $142 million at current prices. The new stake raises the company’s total staked holdings to 3.39 million ETH, valued at $7.88 billion. Bitmine’s total ether holdings now total about 4.976 million ETH, equal to roughly 4.12% of the circulating supply. The company has a stated target to hold 5% of all ether, a goal it calls the “Alchemy of 5%.”

Of Bitmine’s total ETH holdings, 68.24% are actively staked. Based on a seven-day staking yield of 2.89%, those staked assets generate about $212 million in annualized staking revenue. The seven-day yield is a short-term snapshot of network rewards that can change with validator activity and network conditions.

Bitmine launched MAVAN, the Made in America Validator Network, an institutional staking platform that provides external participants direct access to Ethereum’s proof-of-stake consensus without running their own validator infrastructure. Bitmine has described MAVAN as on pace to become the largest Ethereum validator network globally.

When Bitmine accelerated staking in early 2026, the firm’s activity contributed to a backlog in the Ethereum validator activation queue. At peak times the queue was estimated at about $8 billion, and new validators faced waits of more than 44 days for activation. Those delays reflect the rate limits and queue mechanics that govern validator onboarding after the Shanghai upgrade.

Tom Lee, Fundstrat founder and Bitmine chair, has called ether “the wartime store of value,” citing its use across decentralized applications, staking infrastructure and corporate treasuries. Lee has set price targets of $7,000 to $9,000 for ether by the end of 2026 and $62,500 by 2030.

At the current scale, each additional stake increases Bitmine’s share of the circulating ether supply and moves the company closer to its stated 5% target.