Bitmine Stakes 400K+ ETH, Owns 3.41% of Ethereum Supply
Bitmine, the largest public holder of Ethereum, is now largely exploring ETH staking, exhibiting its commitment to the long-term potential of the altcoin. With a staggering 4.11 million ETH tokens and 400,000+ ETH staked, Bitmine is solidifying its position as the largest institutional Ether holder globally.
This strategic move also indicates the company’s proactive approach to maximizing returns on its cryptocurrency holdings. As Bitmine has faced about $4 billion in unrealized losses amid the downfall of the Ether token, the firm is looking to diversify its revenue options.
Unveiling a New Chapter in Bitmine’s Ethereum Investment
In an official announcement, Ethereum treasury company Bitmine revealed its foray into ETH staking, reiterating its long-term confidence in the Ether token despite its current downtrend. As the company now reportedly holds about 4.11 million ETH tokens, Bitmine currently boasts 3.41% of Ethereum’s total circulating supply.
To date, Bitmine has staked around 408,627 ETH, worth about $1.2 billion. The firm is set to further expand its staking operations with the launch of its Made in America Validator Network (MAVAN) in early 2026. CEO Tom Lee stated,
“We continue to make progress on our staking solution known as The Made in America Validator Network (MAVAN). This will be the ‘best-in-class’ solution offering secure staking infrastructure and will be deployed in early calendar 2026.”
Recently, Bitmine announced the launch of ETH staking, transferring a massive 74,880 ETH, worth $219 million, to the Ethereum PoS system. This strategic move is expected to generate significant annual returns, with potential earnings of 126,800 ETH (about $371 million in value).
Earlier in November, the company announced its staking plans as a strategic move to counter the $4 billion unrealized losses. CEO Lee noted,
“We plan to partner with one or more of these pilot partners plus world-class infrastructure providers to scale our own “Made in America Validator Network” (MAVAN) over the coming quarter.”
How Will Bitmine Overcome $4B Losses?
As highlighted by Bitmine, the latest ETH staking move is part of the platform’s initiative to balance the losses. The Ether token’s prevailing bearish trend, currently trading at $2,974, has resulted in an unrealized loss of $3.5 billion-$4.2 billion.
Bitmine’s decision to stake its Ethereum holdings can be seen as a strategic move to offset losses due to the Ether token’s negative sentiment. Currently, ETH is hovering below the significant $3k mark, struggling to recover. Lee noted,
“Market activity tends to slow as we enter the final holiday weeks of a calendar year. Bitmine added 44,463 ETH in the past week, as we continue to be the largest ‘fresh money’ buyer of ETH in the World. Year-end tax-loss related selling is pushing down crypto and crypto equity prices and this effect tends to be the greatest from 12/26 to 12/30, so we are navigating markets with this in mind.”
Despite this overarching bearish sentiment, Bitmine remains committed to its Ethereum accumulation strategy. Thus, it continues to accumulate the altcoin, now holding 3.4% of ETH’s total supply. This makes the company closer to its mission of acquiring 5% of the circulating supply.
Currently, Bitmine is collaborating with three staking providers as it prepares to launch its commercial MAVAN in 2026. With a composite Ethereum staking rate of 2.81%, Tom Lee estimates that when the company’s entire 4.11 million ETH holdings are staked, it could generate around $374 million in annual staking fees, translating to over $1 million per day.
