- BitMine Immersion Technologies deposited 82,560 ETH (about $259 million) into Ethereum staking, increasing congestion in the validator entry queue.
- With the new deposits, BitMine now has 544,064 ETH staked (about $1.62 billion) according to onchain monitoring.
- The Ethereum validator entry queue stands near 977,000 ETH, with an estimated wait time of roughly 17 days for new validators, per the blockchain explorer.
- Exit requests remain lower, with about 113,000 ETH waiting to withdraw; over 35.5 million ETH (≈29% of supply) is staked and the annualized staking yield is near 2.54%.
- BitMine plans to expand staking via the Made‑in‑America Validator Network (MAVAN) in early 2026 and has run a pilot with three institutional staking providers.
BitMine Immersion Technologies recently sent 82,560 Ether to Ethereum’s staking contract, adding roughly $259 million to the network’s staked supply and intensifying the validator entry backlog. Data from Arkham shows multiple large deposits, and onchain analyst Lookonchain reports the company’s total staked ETH now totals 544,064 Ether (about $1.62 billion).
The firm began staking on Dec. 26, initially moving almost $219 million worth of ETH to staking contracts and has outlined plans to expand staking through an internal program called the Made‑in‑America Validator Network (MAVAN). The company said it selected three institutional staking providers for an initial pilot to test performance and security, as detailed in a company announcement accessed here.
The deposit surge has pushed Ethereum’s validator entry queue to roughly 977,000 ETH, with an estimated activation wait near 17 days according to the blockchain explorer ValidatorQueue. Exit activity is lighter, with just over 113,000 ETH queued to withdraw.
Network data show more than 35.5 million ETH is staked—about 29% of the total supply—and the annualized staking yield is near 2.54%. Abdul, head of DeFi at layer‑1 blockchain Monad, noted on X that the last time the entry and exit queue flipped in June, Ether “doubled in price shortly after,” and added that “2026 going to be a movie.”
Tom Lee, chairman of BitMine, is asking shareholders to approve an increase in the company’s authorized share count to 50 billion to accommodate potential future stock splits tied to Ether price movements.
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