BitMine Stakes About $1 Billion in Ether, Flipping Ethereum’s Validator Queue

Overview

• On-chain trackers show BitMine staked roughly 342,560 ETH over Dec. 27–28 via coordinated BatchDeposit transactions spanning multiple linked wallets.
• Ethereum’s validator entry queue now exceeds the exit queue for the first time in six months, with about 745,000 ETH waiting to enter versus roughly 360,000 exiting, lengthening entry wait times.
• BitMine reports more than 4.06 million ETH in its treasury—around 3.3% to 3.4% of supply—and is piloting providers for its Made in America Validator Network ahead of an early 2026 launch.
• At an estimated 3.1% APY, fully staking BitMine’s holdings could generate about 126,800 ETH a year (roughly $371 million at current prices), though withdrawal queues introduce liquidity risk for a corporate treasury.
• Equities tied to large ETH treasuries, including BitMine’s stock, remain under pressure, and analysts highlight centralization and regulatory scrutiny risks as the company scales staking.