BitMine Captures Half of Ethereum: A Staked Empire Emerges

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BitMine, that most respectable of corporate treasuries, has managed to stake more than half of its Ethereum reserves. It’s as if the coins have decided to enroll in a loyalty program and BitMine happened to be the spa where they relax.

According to on-chain data from Arkham Intelligence, the firm, chaired by Fundstrat’s Tom Lee, moved an additional 209,504 ETH into staking contracts earlier today. The sum is currently valued at approximately $610 million.

BitMine’s total staked value now stands at a staggering 2,218,771 ETH ($6.52 billion). This represents over 52% of its total ETH holdings.

How Bitmine’s staking works

BitMine is utilizing an institutional solo staking model. The firm is leveraging its proprietary infrastructure known as MAVAN (Made in America Validator Network).

For every 32 ETH they lock up, they activate one unique validator software instance on the network. With over 2.2 million ETH staked, BitMine is operating nearly 70,000 individual validators.

BitMine’s $6.52B stake is projected to generate roughly $190 million – $200 million in annual recurring revenue.

Lee previously claimed that BitMine will be able to turn ETH into a productive asset in such a way. Don’t panic-it’s just a very productive cloud of numbers pretending to behave themselves.

BitMine’s dominance

According to CoinGecko, BitMine holds 4,243,338 ETH, valued at approximately $12.4 billion. The company holds nearly 5x more Ethereum than the second-largest holder, SharpLink.

For context, owning 3.5% of a major asset class is virtually unheard of for a single corporation when it comes to traditional equities.

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2026-01-27 19:36