BitMine Immersion Technologies (BMNR) has solidified its position as the world’s leading Ethereum Digital Asset Treasury (DAT) after a massive new staking deployment. On Wednesday, blockchain data from Lookonchain revealed that the firm added 186,560 ETH—valued at approximately $625 million—to its “Beacon Depositor” address.
This move pushes BitMine’s total staked Ether to 1,530,784 ETH. With a current market valuation exceeding $5.1 billion, the company now controls 4% of the 36 million total ETH staked on the Ethereum Beacon Chain. Despite this milestone, BitMine still has significant room for growth; the company holds over 4 million ETH in total, meaning only 37% of its current treasury is currently earning staking rewards.
Institutional Staking Surge and Market Impact
The timing of this deployment coincides with a massive spike in institutional interest in Ethereum. The validator entry queue—the “waiting list” for investors looking to stake their ETH—recently skyrocketed to 2.3 million ETH. This represents the highest level of demand seen since August 2023, signaling a major shift as large-scale holders move their assets out of exchanges and into the network’s security layer.
For BitMine, the aggressive staking strategy is part of a broader vision led by Chairman Tom Lee. The firm recently reported a diverse and robust balance sheet that includes 4,167,768 ETH, 192 Bitcoin, and nearly $1 billion in cash reserves. By shifting these assets into staking, BitMine is transforming its static holdings into a yield-generating engine that supports the company’s long-term valuation.
Tom Lee’s Bullish Outlook for 2026
Fundstrat’s Tom Lee, who chairs BitMine, remains one of the most vocal bulls in the digital asset space. Following a period of market volatility at the end of 2025, which Lee referred to as a “mini crypto winter,” he believes 2026 will be the year of a significant recovery. Lee noted on Monday that the “leverage reset” of late 2025 has cleared the way for more sustainable growth, with even stronger gains projected for 2027 and 2028.
This optimism is already reflecting in the company’s stock performance. BitMine (BMNR) shares climbed 3.8% in after-hours trading to reach $32.35. The stock has seen an 11.5% gain year-to-date, outperforming many traditional tech assets as investors seek direct exposure to Ethereum’s “productive” treasury model.
Ether Price Breaks Sideways Trend
While BitMine accumulates, the Ethereum market itself is showing signs of life. Ether recently recorded its largest daily gain of 2026, surging 7% to hit $3,375. This rally brought the asset to its highest price point since December, testing the upper limits of a two-month sideways trading channel.
Market analysts are now watching the $3,400 resistance level closely. A clean break above this mark could trigger fresh momentum, potentially ending the period of consolidation. As BitMine continues to lock up a larger percentage of the circulating supply through staking, the resulting “supply shock” could serve as a primary catalyst for the price recovery Lee is predicting.
