TL;DR
- Bitmine Immersion now stakes more than half of its Ethereum reserves, reinforcing Ethereum’s role as a yield-generating treasury asset for corporations.
- The company relies on an institutional solo staking model supported by proprietary validator infrastructure, operating close to 70,000 validators.
- With over $6.5 billion in ETH locked, Bitmine generates an estimated $190 million to $200 million in annual staking revenue while holding one of the largest Ethereum treasuries worldwide.
Ethereum continues to gain relevance as a corporate treasury asset, and Bitmine Immersion stands at the center of this shift. The company now stakes more than 50% of its Ethereum reserves, showing how large balance sheets increasingly seek on-chain yield rather than relying on traditional intermediaries.
Bitmine staked another 209,504 ETH ($610M) today
In total, Bitmine has staked 2,218,771 ETH ($6.52B), over 52% of its total holdings. – @arkham pic.twitter.com/YPB1gNOhYa
— Cam (@CryptoNews_eth) January 27, 2026
Ethereum Treasury Giant Bitmine has confirmed that more than half of its ETH holdings are actively staked, based on on-chain data from Arkham Intelligence. Earlier today, the firm transferred an additional 209,504 ETH into staking contracts, lifting its total staked balance to around 2,218,771 ETH. At current market prices, this represents approximately $6.52 billion, or about 52% of its total Ethereum holdings.
Bitmine is chaired by Tom Lee, known for his leadership at Fundstrat, and has positioned Ethereum as a productive treasury asset rather than a passive store of value. By committing such a large share of its reserves to staking, the company earns native network rewards while retaining direct exposure to ETH. This strategy aligns with Ethereum’s proof-of-stake architecture, which allows long-term holders to secure the network and earn yield at the protocol level.
Institutional Solo Staking And Validator Operations
Bitmine uses an institutional solo staking model through its proprietary infrastructure, MAVAN (Made in America Validator Network). Each 32 ETH locked activates a dedicated validator instance fully operated by the company. With more than 2.2 million ETH staked, Bitmine manages close to 70,000 validators, placing it among the largest single operators on the Ethereum network.
This setup removes reliance on third-party custodians or pooled staking services, reducing counterparty exposure and preserving operational control. Under current network conditions, the staked ETH is estimated to generate between $190 million and $200 million in annual recurring revenue. For corporate treasuries, this demonstrates how Ethereum staking functions as a native yield strategy comparable to traditional income-generating assets.
Market Concentration And Treasury Context
Data from CoinGecko shows that Bitmine holds roughly 4,243,338 ETH, valued near $12.4 billion. This gives the firm nearly five times more Ethereum than SharpLink, the second-largest known corporate holder. In traditional equity markets, a single corporation controlling around 3.5% of a major asset class would be highly unusual, highlighting how digital assets enable different forms of capital concentration.
