BitMine Stakes $259M More ETH as Validator Queue Nears 1M Ether

BitMine Immersion Technologies recently staked an additional 82,560 Ether, valued at approximately $259 million, into Ethereum's staking system. This move increased BitMine's total staked ETH to 544,064 Ether (about $1.62 billion) and significantly contributed to pushing Ethereum's validator entry queue near 977,000 ETH, resulting in an estimated 17-day wait time for new validators to become active.

BitMine plans to expand its staking operations via its internal Made-in-America Validator Network (MAVAN) starting in Q1 2026. Meanwhile, the company's chairman, Tom Lee, is advocating for shareholders to approve a massive increase in authorized shares to 50 billion to manage potential future stock splits driven by rising ETH valuations.

Overall, over 35.5 million ETH (about 29% of the total supply) is currently staked, yielding near 2.54%, as institutional demand for yield continues to drive activity in the network.

(Source：Cointelegraph)