BitMine Immersion Technologies has significantly deepened its exposure to Ethereum, reinforcing its role as one of the largest corporate participants in the staking ecosystem.

In its latest move, the firm staked an additional 86,400 ETH in a single action, committing capital worth roughly $266 million at current market prices. That transaction lifts BitMine’s total staked balance to just over 1.08 million ETH, valued at approximately $3.3 billion, placing the company among the most influential non-native actors in Ethereum’s validator economy.

Key takeaways:

• BitMine added 86,400 ETH to staking in one transaction, worth about $266 million

• Total staked ETH now exceeds 1.08 million, valued near $3.3 billion

• The firm holds roughly 2.74 million ETH overall, worth more than $8 billion

• The strategy signals long-term commitment rather than active trading

From Accumulation to Long-Term Commitment

On-chain data shows that the recent staking was executed through multiple deposits into Ethereum’s BatchDeposit contract, a pattern BitMine has followed consistently over the past few weeks. In parallel, the company continues to hold a much larger ETH treasury overall, with total holdings now approaching 2.74 million ETH — a position worth more than $8 billion.

Tom Lee(@fundstrat)'s #Bitmine staked another 86,400 $ETH($266.3M) 5 hours ago.

In total, #Bitmine has now staked 1,080,512 $ETH($3.33B).https://t.co/P684j5YQaG pic.twitter.com/TpEf32m6AF

— Lookonchain (@lookonchain) January 11, 2026

This latest step follows a series of similar actions. Only days earlier, BitMine staked more than 82,000 ETH, and before that, initiated its staking strategy with a smaller tranche late last year. Together, these moves signal a clear transition from simple accumulation to yield-driven, long-duration positioning.

Rather than treating Ethereum as a trading asset, BitMine appears to be locking in exposure and accepting reduced liquidity in exchange for predictable network rewards — a strategy more commonly associated with sovereign-style treasury management than speculative crypto trading.

Adding Pressure to an Already Crowded Validator Queue

BitMine’s aggressive staking comes at a time when Ethereum’s validator pipeline is already congested. The queue for new validators has swelled to well over 1.8 million ETH, pushing activation wait times beyond a month. Exit activity, by contrast, remains muted, meaning ETH continues to flow into staking far faster than it leaves.

This imbalance is steadily removing supply from circulation, making the market more sensitive to demand shifts. With nearly 30% of Ethereum’s total supply now staked, the network is increasingly shaped by participants willing to commit capital for extended periods rather than chase short-term price swings.

Building Its Own Staking Infrastructure

The scale of BitMine’s involvement is not accidental. Last year, the company announced plans to develop its own validator framework — the Made-in-America Validator Network — aimed at supporting in-house staking operations. Before rolling it out fully, BitMine tested the setup with several institutional providers to evaluate performance and security.

That groundwork now appears to be paying off, allowing the firm to stake at size without relying exclusively on third-party operators. The approach mirrors how some corporate Bitcoin holders built custody and treasury systems before expanding their positions.

A Bullish View on Ethereum’s Long-Term Trajectory

BitMine chairman Tom Lee has repeatedly framed Ethereum as a long-term structural bet rather than a cyclical trade. In recent comments, Lee pointed to tokenization and blockchain-based financial infrastructure as Ethereum’s key growth drivers, arguing that the network is positioned to compete directly with traditional payment and settlement systems.

While near-term crypto markets remain volatile, Lee has suggested that periods of forced selling and liquidity stress tend to precede strong recoveries. In his view, Ethereum’s expanding role in tokenized finance could eventually justify valuations far above current levels.

A Treasury Strategy That Reshapes the Market

With millions of ETH locked away and more flowing into staking queues, BitMine’s strategy is doing more than generating yield — it is actively reshaping Ethereum’s supply dynamics. Large, patient holders reduce the tradable float, amplify the impact of demand, and increase the importance of long-term fundamentals over short-term sentiment.

Whether or not price follows immediately, the message is clear: some of the biggest players in the market are positioning Ethereum as infrastructure, not inventory.