Ethereum staking continues to concentrate among major players. BitMine Immersion Technologies has made another massive deposit, pushing its total staked Ether above 1.5 million ETH. At current prices, that stake is worth more than $5 billion, representing roughly 4% of all ETH staked on the network.
According to data from blockchain analytics firm Lookonchain, the company sent an additional 186,560 ETH to the “Beacon Depositor” address on Wednesday—an allocation valued at approximately $625 million.
4% of the Entire Beacon Chain in One Firm’s Hands
Following the latest deposit, BitMine’s total staked balance reached 1,530,784 ETH, worth about $5.13 billion. By comparison, roughly 36 million ETH are currently staked on Ethereum’s Beacon Chain, underscoring the scale of BitMine’s footprint.
That share could grow further. BitMine holds just over 4 million ETH in total, with around 37% already staked. The latest move came just days after the company first crossed the 1 million ETH staked milestone.
Strong Balance Sheet and a Growing Staking Queue
On Monday, the company disclosed that it holds:
4,167,768 ETH192 BTCNearly $1 billion in cashA $23 million stake in Eightco Holdings
Interest in Ethereum staking is also accelerating more broadly. The validator entry queue has surged to 2.3 million ETH, the highest level since August 2023, signaling strong long-term confidence in the network.
BitMine Shares Rise After Hours
Markets reacted positively. BitMine shares rose 3.8% after Tuesday’s close to $32.35, according to Google Finance. Year to date, the stock is up 11.5%, broadly in line with the crypto market’s recovery.
Company chairman Tom Lee remains bullish on Ether and crypto assets after a volatile end to 2025.
“We view the deleveraging reset after October 10, 2025 as a kind of mini crypto winter. 2026 is a recovery year, with stronger returns expected in 2027–2028,” Lee said.
Ether Posts Its Biggest Daily Gain of 2026
The positive momentum extended to Ether’s price. ETH jumped 7% over the past 24 hours, marking its largest single-day gain of 2026.
According to TradingView, Ether climbed to $3,375 early Wednesday on Coinbase, its highest level since December 10.
Technically, ETH is pressing against the upper boundary of a two-month consolidation range. A decisive break above $3,400 would be required to unlock further meaningful upside.
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