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

BitMine Immersion Applied sciences has added one other 82,560 Ether, price roughly $259 million, to Ethereum’s staking system, intensifying congestion within the community’s validator entry queue as institutional demand for yield continues to construct.

Knowledge from Arkham reveals that the Ether (ETH) treasury agency despatched a number of giant deposits to Ethereum’s BatchDeposit contract inside the previous few hours. With the brand new stake, BitMine’s whole staked ETH has climbed to 544,064 Ether, valued at roughly $1.62 billion at present costs, in keeping with onchain analyst Lookonchain.

BitMine first began staking ETH on Dec. 26, transferring practically $219 million price of ETH to staking-related contracts on the Ethereum community.

In November, BitMine revealed plans to start staking Ether within the first quarter of 2026 by way of an inner infrastructure often known as the Made-in-America Validator Community (MAVAN). The corporate mentioned it had chosen three institutional staking suppliers for an preliminary pilot, deploying a restricted quantity of ETH to guage efficiency, safety and operational reliability earlier than increasing this system.

Associated: Ethereum’s tokenization position takes focus as Tom Lee outlines bullish outlook

Ether validator entry queue nears 1 million ETH

In the meantime, BitMine’s aggressive staking push has helped push Ethereum’s validator entry queue to roughly 977,000 ETH, with an estimated wait time of practically 17 days for brand spanking new validators to turn out to be lively, in keeping with the blockchain explorer Ethereum Validator Queue.

Then again, exit exercise stays comparatively mild, with simply over 113,000 ETH ready to withdraw.

Ethereum’s community knowledge reveals that greater than 35.5 million ETH, or roughly 29% of whole provide, is now staked, whereas the annualized staking yield stands close to 2.54%.

Abdul, the top of DeFi at layer 1 blockchain Monad, mentioned in an X put up final week that the final time the entry and exit queue flipped in June, Ether “doubled in value shortly after,” and predicted that “2026 going to be a film.”

Associated: BitMine locks up $1B in Ether as large corporates stake ETH for yield

Tom Lee pushes huge share enlargement at BitMine

As Cointelegraph reported, Tom Lee, chairman of BitMine, is urging shareholders to approve a pointy enhance within the firm’s approved share depend to 50 billion, arguing the transfer is required to accommodate future inventory splits if Ether’s value drives BitMine’s valuation greater.