Bitmine Scales Ethereum Staking to $1 Billion, Marking a Pivot to Yield

Overview

• On-chain data tracked by Lookonchain shows Bitmine has staked 342,560 ETH over two days after an initial 74,880 ETH deposit recorded on December 27 via the BatchDeposit contract.
• Bitmine’s treasury exceeds 4.06 million ETH, roughly 3.4% of supply, as the company continues to target a longer-term stake of about 5%.
• At an estimated 3.1% protocol yield, fully staking the treasury would generate more than 126,000 ETH per year, with the $219 million initial tranche serving as a live pilot.
• Staked ETH can be withdrawn only through a variable queue, creating liquidity and timing considerations for treasury management.
• Bitmine is testing institutional providers and preparing its Made in America Validator Network for early 2026, while Chairman Tom Lee has voiced a multi‑year bullish outlook for Ethereum.