Las Vegas, NV – January 11, 2026 – BitMine Immersion Technologies (NYSE AMERICAN: BMNR), a leading Bitcoin and Ethereum network company, has announced a significant milestone in its Ethereum (ETH) staking endeavors. The company's total staked ETH has surpassed 1 million, reaching 1.08 million ETH, valued at over $3.3 billion. This achievement underscores BitMine's strategic move to strengthen its long-term Ethereum management strategy and enhance its income-generating assets at an institutional level.
The firm, guided by Tom Lee, recently executed a substantial single-day staking move, committing an additional 86,400 ETH, worth approximately $266 million at current prices. This decisive action further solidifies BitMine's position as a major institutional player in the Ethereum staking landscape.
On-chain records indicate these deposits were executed via Ethereum's BatchDeposit contract through coordinated transfers. With Ether trading around $3,091, BitMine's total ETH holdings are estimated at 2.74 million, valued at approximately $8.5 billion.
This milestone is not an isolated event, as BitMine has steadily increased its staked position through deliberate accumulation. Days prior, the company staked over 82,000 ETH, following its initial staking foray late last year. These initial deposits marked a shift from passive holding to active yield generation.
BitMine's strategic push into Ethereum staking coincides with rising congestion in Ethereum's validator pipeline. Currently, over 1.8 million ETH are awaiting active validation, causing activation delays exceeding a month. In contrast, exit queues remain relatively quiet, suggesting long-term commitment from most stakers. Approximately 35.5 million ETH, or 29% of the circulating supply, are now staked, yielding an average annual return near 2.5%.
In preparation for broader deployment in early 2026, BitMine is developing its internal staking system, the Made-in-America Validator Network (MAVAN). Pilot programs with institutional partners are underway to assess performance, security, and operational resilience before scaling. According to a statement made on January 5, 2026 by Tom Lee, once Bitmine's ETH is fully staked by MAVAN and its staking partners, the ETH staking fee is expected to be $374 million annually, or greater than $1 million per day.
BitMine's increasing focus on Ethereum is evident, with the company holding 4.144 million ETH tokens and total crypto and cash holdings of $14.2 billion as of January 4, 2026. The company has set an ambitious goal of acquiring 5% of the total ETH supply. Currently, Bitmine owns 3.43% of the ETH token supply.
In other news, BitMine recently appointed Young Kim as Chief Financial Officer (CFO) and Chief Operating Officer (COO), effective immediately. Kim will also serve as a member of the Company's Board of Directors, reporting to Chairman Tom Lee. The company will hold its Annual Stockholder Meeting on January 15, 2026, at the Wynn Las Vegas.
BitMine is supported by a group of institutional investors, including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital.
