Bitmine Boosts Ethereum Staking with 86,400 ETH, Pushing Total Holdings Past $3.3 Billion

Bitmine has significantly expanded its Ethereum staking operations, adding 86,400 ETH valued at approximately $266.3 million. This strategic move increases its total staked Ethereum holdings to over 1.08 million ETH, now worth around $3.33 billion. The company's aggressive staking strategy reflects a long-term commitment to yield generation and supply reduction within the Ethereum ecosystem.

Key Takeaways

• Bitmine staked an additional 86,400 ETH, valued at $266.3 million.

• Total staked ETH now exceeds 1.08 million, worth approximately $3.33 billion.

• This move is part of a broader strategy to accumulate 5% of Ethereum's total supply.

• The increased staking reduces liquid ETH supply, potentially impacting price dynamics.

Strategic Staking and Market Impact

The recent deposit of 86,400 ETH by Bitmine is a continuation of its intensified staking activity, which began in late December 2025. This large-scale staking directly removes ETH from active circulation, thereby reducing sell-side liquidity. Industry analysts suggest that such actions, coupled with staking rewards, incentivize holding positions rather than speculative trading. This gradual absorption of supply has occurred without triggering significant price acceleration, though it creates an underlying tension that could lead to volatility once demand re-enters the market.

Ethereum's Technical Outlook

Ethereum has recently broken above a descending channel, invalidating previous bearish structures. While the price has stabilized around the $3,090 pivot, it faces resistance below $3,307, with $3,909 as the next major target. The Relative Strength Index (RSI) shows an early bullish recovery, indicating buyers are regaining control, though sustained strength above resistance is needed for confirmation of further upside.

Derivatives Market Dynamics

Despite the positive staking news, the derivatives market shows a significant increase in leverage, with funding rates surging by 66.12%. This indicates aggressive long positioning, but the price has not kept pace, creating a divergence. Historically, such imbalances can amplify volatility, potentially leading to either a price expansion or a deleveraging event. Spot demand has not yet mirrored the optimism seen in the derivatives market, placing Ethereum at a critical juncture.

Short Liquidations and Liquidity Clusters

Liquidation data reveals that short positions are bearing the brunt of the current market pressure, with short liquidations significantly exceeding long liquidations. While bears are absorbing damage, they continue to defend resistance zones. The trading range is further defined by liquidity clusters around $3,050–$3,100 and $3,150–$3,200. These zones act as magnets for price, suggesting that until one cluster is cleared, Ethereum may continue to oscillate within this liquidity-defined range.

Bitmine's Ambitious Accumulation Goal

Under the leadership of Tom Lee, Bitmine has shifted its focus from Bitcoin mining to Ethereum treasury management. The company has aggressively accumulated ETH, aiming to acquire 5% of the total circulating supply. With over 4.1 million ETH already held, Bitmine positions itself as a significant player in the Ethereum ecosystem, influencing supply dynamics through its substantial staking activities.

Sources

• Bitmine ramps up staking with 86,400 ETH: What comes next for Ethereum?, AMBCrypto.

• Why Bitmine Immersion Technologies (BMNR) Is Up 11.8% After Massive Share Authorization And EthereumBuild-Out, Yahoo Finance.

• Bitmine Stakes $266M Ethereum, Pushing Total Staked $3.3B, crypto.news.

• Bitmine Continues To Stake Ethereum, Adds Another $344.4M Worth ETH, Yahoo Finance.