Bitmine possesses almost 3.4% of the total ETH supply, progressing towards its target of 5%.
BitMine Immersion, one of the largest digital asset treasury entities, has staked 342,560 Ethereum worth about $1 billion over the past two days, according to data tracked by Lookonchain.
The company, led by Fundstrat’s Tom Lee, reported holding more than four million ETH, equal to approximately 3.4% of the total supply, in its most recent filing. On-chain data show that the figure has since risen as the firm continued to accumulate throughout the week.
Staking ETH supports Ethereum’s network security through its proof-of-stake validation mechanism, where validators lock up tokens to help verify transactions.
BitMine is preparing to roll out its Made in America Validator Network (MAVAN) after assessing multiple institutional staking providers across safety, reliability, and reward generation.
The company has initiated a live pilot with three selected partners to track real-time performance before committing more assets.
With a targeted go-live in early 2026, BitMine aims to create a purpose-built platform for native ETH staking, prioritizing long-term value for its shareholders.
