Tom Lee's BitMine Immersion Technologies staked an additional 86,400 ETH worth $266 million.
The deposit brings the company's total staked Ethereum to 1.08 million ETH valued at approximately $3.33 billion.
BitMine holds 4.14 million ETH representing 3.43% of Ethereum's total supply, according to the company's January 4 disclosure.
What Happened
The staking transaction processed through Ethereum's BatchDeposit contract on January 10.
BitMine previously staked 82,560 ETH worth $259 million on January 5, demonstrating accelerated staking activity.
The company initiated staking operations on December 26, 2024, depositing approximately 74,880 ETH worth $219 million.
BitMine plans to launch its Made-in-America Validator Network in Q1 2026 after completing pilot programs with three institutional staking providers.
At current staking yields of approximately 2.8%, BitMine could generate over $1 million daily once its full treasury is staked.
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Why It Matters
The aggressive staking strategy signals long-term holding intentions rather than active trading.
Lee predicted Ethereum could reach $7,000 to $9,000 by early 2026, citing tokenization as the primary growth driver.
Large-scale corporate staking removes supply from circulation, potentially amplifying price movements during demand increases.
BitMine's validator queue contributions have extended new validator activation times to approximately 31 days.
The company's treasury strategy mirrors Strategy's Bitcoin accumulation model, positioning Ethereum as a core balance sheet asset.
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